Goldman Sachs maintains $1,200 target on ServiceNow stock

Despite the potential for currency-related headwinds due to the recent strength of the U.S. dollar, which may limit foreign exchange benefits in the fourth quarter and pose challenges for fiscal year 2025 growth, Goldman Sachs remains optimistic. The firm believes that constant currency growth guidance will be the key metric influencing ServiceNow (NYSE:NOW)'s stock value beyond the immediate effects of foreign exchange fluctuations on the day of the earnings report. Based on current InvestingPro analysis, ServiceNow appears to be trading above its Fair Value, though its strong financial health score and growth metrics continue to attract investor attention. Based on current InvestingPro analysis, ServiceNow appears to be trading above its Fair Value, though its strong financial health score and growth metrics continue to attract investor attention.

Despite the potential for currency-related headwinds due to the recent strength of the U.S. dollar, which may limit foreign exchange benefits in the fourth quarter and pose challenges for fiscal year 2025 growth, Goldman Sachs remains optimistic. The firm believes that constant currency growth guidance will be the key metric influencing ServiceNow's stock value beyond the immediate effects of foreign exchange fluctuations on the day of the earnings report. Based on current InvestingPro analysis, ServiceNow appears to be trading above its Fair Value, though its strong financial health score and growth metrics continue to attract investor attention.

Despite the potential for currency-related headwinds due to the recent strength of the U.S. dollar, which may limit foreign exchange benefits in the fourth quarter and pose challenges for fiscal year 2025 growth, Goldman Sachs remains optimistic. The firm believes that constant currency growth guidance will be the key metric influencing ServiceNow's stock value beyond the immediate effects of foreign exchange fluctuations on the day of the earnings report. Based on current InvestingPro analysis, ServiceNow appears to be trading above its Fair Value, though its strong financial health score and growth metrics continue to attract investor attention.

Despite the potential for currency-related headwinds due to the recent strength of the U.S. dollar, which may limit foreign exchange benefits in the fourth quarter and pose challenges for fiscal year 2025 growth, Goldman Sachs remains optimistic. The firm believes that constant currency growth guidance will be the key metric influencing ServiceNow's stock value beyond the immediate effects of foreign exchange fluctuations on the day of the earnings report.

In other recent news, ServiceNow has been the focus of several financial firms, with TD Cowen maintaining a Buy rating and a price target of $1,300. The firm's analysis suggests strong performance with increased adoption of ServiceNow's Pro Plus product and a growing interest in its Workflow Data Fabric. BofA Securities and JMP Securities also raised their price targets for ServiceNow to $1,280 and $1,300 respectively, citing strong performance in deal activities and increased traction in IT Asset Management among existing customers.

ServiceNow has also announced plans to acquire Cuein, an AI-driven conversation data analysis firm, expected to enhance ServiceNow's Workflow Data Fabric technology. Barclays (LON:BARC) has maintained an Overweight rating for ServiceNow, demonstrating confidence in the company's continued growth and ability to integrate new technologies. Cantor Fitzgerald initiated an Overweight rating for ServiceNow, highlighting its successful growth among large enterprise customers.

Evercore ISI analysts have also expressed optimism towards ServiceNow, maintaining an Outperform rating. These recent developments suggest a confident outlook for ServiceNow's future financial performance. These are the latest developments in the ongoing story of ServiceNow's strategic growth and expansion.

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