ServiceNow (NOW) PT Raised to $140 at Oppenheimer

Oppenheimer analyst Brian Schwartz raised the price target on ServiceNow (NYSE: NOW) to $140.00 (from $130.00) while maintaining a Outperform rating.

The analyst comments "We reiterate our Outperform rating on ServiceNow and raise our PT to $140 from $130 ahead of 2Q earnings. In our view, AI disruption concerns on ServiceNow carry some risk to future growth, but are overdone given the company's strong workflow automation platform, proprietary data, deep enterprise integration, and rapidly growing AI business. Moreover, when the software market sentiment improves, the company is well positioned for multiple expansion, supported by attractive FY30 financial targets, an expected 10%+ AI revenue mix by the end of 2026, margin stability, and multiple growth drivers through the AI transition. For 2Q, we expect upside to estimates, strong AI commentary, and margin strength driven by AI efficiencies and disciplined hiring."

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