"Goldman Sachs cut its ServiceNow stock price target to $163 from $188 while keeping a Buy, arguing ServiceNow remains well positioned as a 'system of action' for AI-related spending."
"Piper Sandler lowered its NOW stock price target to $140 from $200 and highlighted that management raised the Now Assist ACV target to $1.5B, calling ServiceNow shares attractive at 5x EV/2027 revenue."
"KeyBanc kept Underweight and cut its ServiceNow stock price target to $85 from $115, citing Middle East slippage, skinnier cRPO upside, and margin guidance coming down due to acquisitions."
ServiceNow's shares dropped 18% following disappointing Q1 2026 earnings, prompting several Wall Street firms to reduce their price targets. Analysts remain divided, with bullish views on the company's long-term potential and bearish concerns over margin compression and deal slippage in the Middle East. Goldman Sachs and Jefferies maintained buy ratings while lowering targets, citing ServiceNow's position in AI spending. Conversely, KeyBanc and BTIG expressed caution due to weaker results and guidance. The overall sentiment reflects a mix of optimism and caution amid market volatility.
Read at 24/7 Wall St.
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