BMO Capital has revised its price target for ServiceNow (NOW, Financial), reducing it from $990 to $950 while maintaining an Outperform rating on the company's stock. Despite the lowered target, BMO expresses continued optimism about ServiceNow's longer-term potential.
The financial firm has advised investors that if current estimates remain stable, the forthcoming earnings announcement might not prompt a significant shift in shareholder activity towards software and IT service stocks, given the uncertain macroeconomic environment.
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.
