The Goldman Sachs Group Cuts ServiceNow (NYSE:NOW) Price Target to $163.00

ServiceNow (NYSE:NOW) had its price objective trimmed by The Goldman Sachs Group from $188.00 to $163.00 in a research report report published on Thursday morning, Marketbeat reports. The firm currently has a buy rating on the information technology services provider’s stock.

Other equities analysts have also recently issued reports about the company. KeyCorp set a $85.00 price objective on ServiceNow and gave the stock an “underweight” rating in a report on Thursday. BMO Capital Markets cut their price objective on ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Royal Bank Of Canada cut their price objective on ServiceNow from $150.00 to $121.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $146.65.

ServiceNow Price Performance

Shares of NYSE NOW opened at $90.09 on Thursday. 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. The stock’s 50-day simple moving average is $104.84 and its two-hundred day simple moving average is $137.51. ServiceNow has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the prior year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow will post 2.49 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $101.17, for a total transaction of $151,755.00. Following the completion of the sale, the director directly owned 46,430 shares in the company, valued at $4,697,323.10. This represents a 3.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Fipps sold 3,696 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the sale, the insider owned 8,061 shares of the company’s stock, valued at $820,367.97. This represents a 31.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 16,237 shares of company stock worth $1,697,162 in the last ninety days. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Several institutional investors have recently bought and sold shares of NOW. Vanguard Group Inc. boosted its holdings in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after acquiring an additional 81,752,460 shares during the period. State Street Corp raised its position in ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after purchasing an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in ServiceNow by 371.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after purchasing an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC raised its position in ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after purchasing an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley raised its position in ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

More 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.