Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
Investing.com - Piper Sandler has reiterated an Overweight rating on ServiceNow (NYSE:NOW) with a price target of $1,150.00, citing strong federal demand and AI traction. This target represents a 24% upside from the current price of $925.17, with InvestingPro data showing analysts have set targets ranging from $734 to $1,300 for the software giant, which currently commands a market cap of nearly $187 billion.
The firm highlighted ServiceNow’s third-quarter performance, which showed 30% Federal Net New Annual Contract Value (NNACV) growth and projected $500 million in Now Assist Annual Contract Value by year-end.
ServiceNow raised all guided metrics while incorporating prudence regarding the government shutdown, according to Piper Sandler’s analysis.
The research firm expressed confidence in ServiceNow’s ability to maintain "best in class growth at scale" moving forward, pointing to multiple growth drivers including Now Assist, CRM, and RaptorDB.
Piper Sandler noted that with expectations "well anchored" for the company’s 2026 guidance, the setup for ServiceNow shares appears favorable going forward.
In other recent news, ServiceNow reported its third-quarter earnings for 2025, surpassing market expectations with an earnings per share (EPS) of $4.82 compared to the forecasted $4.26. The company also exceeded revenue projections, achieving $3.41 billion against a forecast of $3.35 billion. This strong financial performance has drawn attention from various analysts. Wolfe Research reiterated its Outperform rating with a $1,210 price target, citing ServiceNow’s robust subscription revenue growth of 20.5% year-over-year. Goldman Sachs also raised its price target to $1,250, highlighting the company’s 21.5% subscription revenue growth, which outperformed the 19.5% guidance. Additionally, Wells Fargo increased its price target to $1,275, maintaining an Overweight rating due to ServiceNow’s raised 2025 guidance. These developments indicate a positive outlook from analysts despite the stock’s recent decline.
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