ServiceNow’s Price Target Raised at Evercore
ServiceNow’s Price Target Raised at Evercore

ServiceNow’s Price Target Raised at Evercore

Jan. 10, 2024, 7:16 p.m., readers: 31

Evercore ISI analysts increased their price target for ServiceNow (NYSE:NOW) from $725.00 to $800.00, while continuing to recommend an Outperform rating. This adjustment follows the results of a positive partner survey. The analysts noted that although ServiceNow shares have seen a significant rise since the third fiscal quarter results, investors might need to exercise some patience in the near term. The partner survey, which gathered insights from 15 major ServiceNow partners, suggests that estimates for 2024 should lean towards an upward adjustment. It also underscores the potential benefits from the Pro+ SKU. Regarding the fourth fiscal quarter results, the analysts anticipate ServiceNow to achieve modestly better performance than the current outlook and Street estimates, which are both at $2.4 billion in revenue. The expected Compound Recurring Profit Order (CRPO) growth is around 20.5% (21% in constant currency).


S erviceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools. The company also provides information technology (IT) service management applications;

Price: 772.93
Market cap: 158.5 billion USD
Eps: 8.38
P/e ratio: 92.24
Terminal Research: NOW
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