Wells Fargo & Company Cuts ServiceNow (NYSE:NOW) Price Target to $160.00

ServiceNow (NYSE:NOW) had its price objective reduced by Wells Fargo & Company from $185.00 to $160.00 in a report published on Thursday morning, MarketBeat reports. They currently have an overweight rating on the information technology services provider’s stock.

A number of other research analysts have also issued reports on NOW. Needham & Company LLC reduced their target price on shares of ServiceNow from $155.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday. Canaccord Genuity Group reduced their target price on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup reduced their target price on shares of ServiceNow from $177.00 to $154.00 and set a “buy” rating for the company in a research note on Thursday. BNP Paribas Exane raised shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Monday, March 16th. Finally, Weiss Ratings lowered shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.65.

ServiceNow Trading Up 6.3%

NYSE NOW opened at $90.09 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 0.84. The company has a 50-day simple moving average of $104.84 and a 200-day simple moving average of $137.51. The firm has a market capitalization of $93.34 billion, a PE ratio of 53.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.01. ServiceNow has a one year low of $81.24 and a one year high of $211.48.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.97. The firm 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 was up 22.1% on a year-over-year basis. During the same period in the previous 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 Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the sale, the director directly owned 46,430 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, insider Paul Fipps sold 3,696 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares of the company’s stock, valued at approximately $820,367.97. This represents a 31.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 16,237 shares of company stock valued at $1,697,162. Company insiders own 0.34% of the company’s stock.

Institutional Trading of ServiceNow

Institutional investors have recently made changes to their positions in the stock. IAG Wealth Partners LLC lifted its stake in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 18 shares during the period. Bogart Wealth LLC lifted its stake in shares of ServiceNow by 93.8% in the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 15 shares during the period. Wealth Watch Advisors INC acquired a new stake in shares of ServiceNow in the 3rd quarter worth approximately $29,000. Albion Financial Group UT lifted its stake in 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 purchasing an additional 15 shares during the last quarter. Finally, True Wealth Design LLC lifted its stake in 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 purchasing an additional 13 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting ServiceNow

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.