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Investing.com - JMP Securities has reiterated its Market Outperform rating and $1,300 price target on ServiceNow (NYSE:NOW) following a visit to the company’s headquarters in Santa Clara. The target represents a 41% upside from the current price of $922.09, though InvestingPro data suggests the stock is currently trading near its Fair Value.
The firm’s analyst Patrick Walravens maintained the rating after meeting with ServiceNow’s investor relations team on Thursday, including VP of Investor Relations Darren Yip and other IR staff members.
During the visit, JMP representatives viewed demonstrations of ServiceNow’s AI Control Tower product and AI Agents in AI Agent Studio, according to the research note.
JMP’s decision to maintain its bullish stance comes as ServiceNow stock has decreased 14% year to date, underperforming compared to the Russell 3000 index which has increased 6% during the same period.
The $1,300 price target suggests significant upside potential for the enterprise software company, which provides cloud-based services to automate enterprise operations.
In other recent news, ServiceNow Inc. has reported strong second-quarter 2025 results, surpassing analyst expectations and prompting the company to raise its guidance for the third quarter and full year. This performance has led to multiple analyst firms adjusting their evaluations of the company. Cantor Fitzgerald reiterated an Overweight rating with a price target of $1,200, viewing the company’s guidance as conservative despite strong results. DA Davidson increased its price target to $1,250, citing momentum from ServiceNow’s AI initiatives. Similarly, TD Cowen raised its target to $1,200, noting a 21.5% growth in current remaining performance obligations, exceeding expectations. BMO Capital also adjusted its price target to $1,160, although it noted that sales trends were slightly below expectations. Additionally, Salesforce (NYSE:CRM) Inc. and ServiceNow are in advanced talks to invest $1.5 billion in Genesys Cloud Services Inc., valuing the company at approximately $15 billion. This investment highlights a unique collaboration between competing enterprise software companies.
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