DA Davidson Cuts ServiceNow (NYSE:NOW) Price Target to $190.00

ServiceNow (NYSE:NOW) had its target price decreased by DA Davidson from $220.00 to $190.00 in a report issued on Thursday morning,MarketScreener reports. DA Davidson currently has a buy rating on the information technology services provider’s stock.

Several other analysts have also issued reports on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of ServiceNow in a report on Thursday, January 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of ServiceNow in a report on Thursday, January 29th. Citigroup cut their price target on ServiceNow from $177.00 to $154.00 and set a “buy” rating for the company in a report on Thursday. Arete Research set a $200.00 price target on ServiceNow in a report on Tuesday, January 6th. Finally, BMO Capital Markets cut their price target on ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.65.

ServiceNow Stock Performance

NOW stock opened at $90.09 on Thursday. The company has a market cap of $93.34 billion, a P/E ratio of 53.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.01. ServiceNow has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 1.00. The stock’s fifty day moving average price is $104.84 and its 200-day moving average price is $137.51.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. On average, equities analysts forecast that ServiceNow will post 2.49 earnings per share for the current year.

Insider Activity

In other news, insider Paul Fipps sold 9,641 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total value of $1,021,271.13. Following the transaction, the insider directly owned 11,757 shares in the company, valued at $1,245,419.01. The trade was a 45.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the transaction, the insider owned 26,314 shares in the company, valued at $2,781,652.94. The trade was a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,237 shares of company stock worth $1,697,162 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently made changes to their positions in NOW. IAG Wealth Partners LLC lifted its position in shares of ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 18 shares in the last quarter. Noble Wealth Management PBC lifted its position in shares of ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 128 shares in the last quarter. Millstone Evans Group LLC increased its holdings in shares of ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Blueline Advisors LLC bought a new stake in shares of ServiceNow in the fourth quarter worth about $25,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow News Roundup

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.

About ServiceNow

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.