Canaccord Genuity has revised its price target for ServiceNow (NOW, Financial), reducing it from $1,275 to $900 while maintaining a Buy rating on the stock. The adjustment comes as the firm anticipates the company's first-quarter results, although it expects the upcoming announcement to meet expectations.
Despite the lowered target, Canaccord remains optimistic about ServiceNow's growth potential, projecting high-teens growth rates in the foreseeable future. This outlook suggests that ServiceNow's performance will continue to be competitive within the large-cap sector, even after any potential revisions to its growth projections.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 40 analysts, the average target price for ServiceNow Inc (NOW, Financial) is $1,037.79 with a high estimate of $1,426.00 and a low estimate of $716.00. The average target implies an upside of 37.28% from the current price of $755.99. More detailed estimate data can be found on the ServiceNow Inc (NOW) Forecast page.
Based on the consensus recommendation from 47 brokerage firms, ServiceNow Inc's (NOW, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for ServiceNow Inc (NOW, Financial) in one year is $1056.38, suggesting a upside of 39.73% from the current price of $755.99. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the ServiceNow Inc (NOW) Summary page.
