On January 13, Brian Schwartz, an analyst at Oppenheimer, reaffirmed a 'Buy' rating on ServiceNow, Inc. (NYSE:NOW). He set a price target of $200, indicating an upside potential of 68%.
A day later, on January 14, Evercore ISI maintained an 'Outperform' rating on the stock, with a price target of $225. The firm observed stable demand patterns and growing adoption of ServiceNow's Now Assist AI offering.
Evercore ISI noted that although the shares have declined by nearly 28% since October, the firm anticipates fourth-quarter results will demonstrate the company's solid growth at scale.
The company's AI strategy is projected to surpass $1 billion in annual recurring revenue by 2026, according to Evercore ISI. Partner surveys suggest steady demand and increasing interest.
ServiceNow, Inc. (NYSE:NOW) is a California-based provider of cloud-based solutions for digital workflows. The company, incorporated in 2004, operates the Now platform.