Truist Financial Cuts ServiceNow (NYSE:NOW) Price Target to $120.00

ServiceNow (NYSE:NOW) had its target price trimmed by Truist Financial from $125.00 to $120.00 in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

A number of other brokerages have also recently issued reports on NOW. HSBC dropped their price objective on ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Sanford C. Bernstein reiterated an “outperform” rating on shares of ServiceNow in a research note on Thursday, January 29th. Piper Sandler dropped their price objective on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday. Mizuho set a $150.00 price objective on ServiceNow and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Finally, Oppenheimer set a $130.00 price objective on ServiceNow and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $146.65.

ServiceNow Trading Up 6.3%

NYSE:NOW opened at $90.09 on Thursday. ServiceNow has a twelve month low of $81.24 and a twelve month high of $211.48. 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 business has a 50 day moving average price of $104.84 and a two-hundred day moving average price of $137.51. 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 (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share 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 the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The business’s revenue was up 22.1% on a year-over-year basis. As a group, analysts expect that ServiceNow will post 2.49 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $101.17, for a total value of $151,755.00. Following the transaction, the director directly owned 46,430 shares of the company’s stock, valued at $4,697,323.10. This represents a 3.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the company’s stock in a transaction on 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 directly owned 26,314 shares in the company, valued at approximately $2,781,652.94. This represents 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 a total of 16,237 shares of company stock valued at $1,697,162 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IAG Wealth Partners LLC grew its holdings in ServiceNow by 200.0% in the 3rd 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 in the last quarter. Bogart Wealth LLC grew its holdings in ServiceNow by 93.8% in the 3rd 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 in the last quarter. Wealth Watch Advisors INC acquired a new position in ServiceNow in the 3rd quarter valued at $29,000. Albion Financial Group UT grew its holdings in ServiceNow by 78.9% in the 3rd 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 in the last quarter. Finally, True Wealth Design LLC grew its holdings in ServiceNow by 52.0% in the 3rd 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 in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.

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.