"Citi analyst Tyler Radke lowered his price target on ServiceNow stock to $177 from $237, while keeping a Buy rating on the shares. The cut is steep, but the bull case hasn't been abandoned."
"Mizuho also lowered its price target on ServiceNow to $150 from $190, while maintaining an Outperform rating. Two firms trimming targets on the same name in the same session tends to get investors' attention even when underlying ratings stay positive."
"Citi's Q1 partner fieldwork indicated ServiceNow came in slightly ahead of plan, with some deal delays and federal softness noted as headwinds. The firm expects the company to report a slight beat when Q1 results arrive."
"Mizuho's channel checks were solid overall, with cloud and consumption data points described as 'generally good' and AI adoption remaining 'very strong.' Cybersecurity demand was mixed, though Mizuho named ServiceNow as one of its favorite stocks to own heading into Q1 reports."
ServiceNow is under scrutiny as Citi and Mizuho lowered their price targets to $177 and $150, respectively, while keeping positive ratings. Citi's analysis suggests slight outperformance in Q1, despite some deal delays. Mizuho's checks indicate solid cloud performance and strong AI adoption, although cybersecurity demand is mixed. ServiceNow, led by CEO Bill McDermott, focuses on AI-powered workflow automation and reported $13.3 billion in revenue for FY2025, with significant growth in free cash flow. The overall sentiment remains cautiously optimistic for long-term investors.
Read at 24/7 Wall St.
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