Canaccord Genuity Group Cuts ServiceNow (NYSE:NOW) Price Target to $145.00

ServiceNow (NYSE:NOW) had its price target decreased by Canaccord Genuity Group from $200.00 to $145.00 in a research note published on Thursday morning, MarketBeat.com reports. Canaccord Genuity Group currently has a buy rating on the information technology services provider’s stock.

Several other analysts have also weighed in on NOW. Piper Sandler lowered their price objective on shares of ServiceNow from $200.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday. Citigroup lowered their price objective on shares of ServiceNow from $177.00 to $154.00 and set a “buy” rating for the company in a research note on Thursday. Oppenheimer set a $130.00 price objective on shares of ServiceNow and gave the company an “outperform” rating in a research note on Wednesday, April 15th. Mizuho set a $150.00 price objective on shares of ServiceNow and gave the company an “outperform” rating in a research note on Tuesday, April 14th. Finally, UBS Group cut ServiceNow from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $100.00 in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $146.65.

ServiceNow Stock Performance

NYSE:NOW opened at $90.09 on Thursday. The company has a fifty day moving average of $104.84 and a 200-day moving average of $137.51. The firm has a market capitalization of $93.34 billion, a P/E ratio of 53.69, a P/E/G ratio of 1.42 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. As a group, sell-side analysts anticipate that ServiceNow will post 2.49 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the sale, the insider owned 26,314 shares of the company’s stock, valued at approximately $2,781,652.94. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Fipps sold 3,696 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares of the company’s stock, valued at $820,367.97. This trade represents a 31.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 16,237 shares of company stock valued at $1,697,162. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. IAG Wealth Partners LLC boosted its position in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 18 shares during the last quarter. Bogart Wealth LLC boosted its position in shares of ServiceNow by 93.8% during the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 15 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow during the third quarter valued at approximately $29,000. Albion Financial Group UT boosted its position in shares of ServiceNow by 78.9% during the third quarter. Albion Financial Group UT now owns 34 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 15 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in shares of ServiceNow by 52.0% during the third quarter. True Wealth Design LLC now owns 38 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Company fundamentals and AI traction remain supportive — ServiceNow beat revenue/earnings views for Q1 and highlighted accelerating AI product adoption (Now Assist / AI agents) that management says will drive long‑term growth. ServiceNow Reports First Quarter 2026 Financial Results
• Positive Sentiment: Strategic moves boost the product and security stack — ServiceNow closed the $7.75B Armis acquisition (extends security capabilities) and deepened Google Cloud AI partnerships, which support cross‑sell and AI workflow positioning. Armis acquisition Google Cloud partnership
• Neutral Sentiment: Mixed analyst reactions — Several firms reaffirmed buy/overweight ratings (some even raised PTs), but many cut targets after the quarter; consensus still leaves upside from current levels, reflecting disagreement over near‑term vs. long‑term outlook. Analyst coverage
• Negative Sentiment: Geopolitical deal delays hit near‑term growth — Management said Middle East conflict delayed several large deal closings (≈75 bps revenue headwind in Q1), and that pushed investors to downgrade near‑term growth expectations. Middle East deal delays
• Negative Sentiment: Margin and guidance concerns — Investors focused on acquisition costs (Armis) and a softer margin outlook/full‑year subscription guidance that many viewed as disappointing, triggering the sector‑wide selloff. Margin/guidance coverage
• Negative Sentiment: Short interest jumped — Short interest rose ~30% in April to ~38.95M shares (~3.8% of shares), increasing potential downside pressure and volatility if bearish sentiment persists.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.