ServiceNow stock rating reiterated at Outperform by Oppenheimer

Investing.com - Oppenheimer maintained its Outperform rating on ServiceNow (NYSE:NOW), currently trading at $914.32 with a market cap of $189.7 billion, with a price target of $1,150.00, according to a research note published Thursday. According to InvestingPro analysis, the stock is currently fairly valued.

The investment firm’s assessment followed a conversation with a large ServiceNow partner that provided real-time insights into current business conditions and trends affecting the company’s fundamentals through year-end and into 2026.

Oppenheimer highlighted that the partner experienced strong business activity and pipeline momentum in the third quarter, suggesting positive operational performance for ServiceNow.

While noting that ServiceNow’s customer relationship management (CRM) traction remains slow against incumbent Salesforce, the research indicated ServiceNow is gaining ground by migrating logic, workflows, and AI automation onto its platform.

The report also observed that although robust artificial intelligence demand is leveling off, ServiceNow maintains strong AI positioning and pricing, with Oppenheimer concluding the company is "well positioned for durable growth" as a leading enterprise integration engine.

In other recent news, ServiceNow reported a quarter-over-quarter improvement in its Enterprise and Commercial selling environment, as noted by Stifel, which maintained its Buy rating with a $1,200 price target. The firm highlighted strength in ServiceNow’s core workflows, including Pro+, Workflow Data Fabric, and RaptorDB offerings. Additionally, ServiceNow introduced the AI Experience, a unified conversational interface designed to integrate artificial intelligence across enterprise workflows, enhancing its Customer Relationship Management (CRM) solution.

ServiceNow also unveiled its new Zurich platform, which features multi-agent AI development, enterprise security, and autonomous workflows, including tools for natural language "vibe coding." In terms of corporate actions, the company filed an amendment related to the resale of additional shares linked to its acquisition of Logik.io, reflecting a post-closing price adjustment. Truist Securities reiterated its Buy rating on ServiceNow, with a price target of $1,200, addressing concerns about AI affecting ServiceNow’s seat-based growth model. According to Truist, ServiceNow has not experienced reductions in seat counts among its customers.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.