ServiceNow stock soars to all-time high of $1159.67

ServiceNow (NYSE:NOW) Inc. has reached an impressive milestone, with its stock price soaring to an all-time high of $1159.67. This peak represents a significant achievement for the cloud computing company, which has seen a remarkable 50.05% increase in its stock value over the past year. According to InvestingPro data, the company boasts impressive gross profit margins of 79.24% and has maintained strong revenue growth of 23.48% over the last twelve months. Investors have shown increasing confidence in ServiceNow's growth trajectory and market position, as the company continues to expand its offerings and customer base in the competitive cloud services industry. With a market capitalization of $238.43 billion and analyst price targets reaching up to $1,300, the company appears to be trading above its Fair Value according to InvestingPro analysis, which identifies 17 additional key factors that could impact the stock's future performance. The all-time high figure underscores the strong performance and investor optimism surrounding ServiceNow's strategic direction and financial health.

In other recent news, ServiceNow, a prominent software company, has been the subject of several financial firms' attention. Goldman Sachs has maintained a $1,200 target on ServiceNow's stock, despite potential currency-related headwinds. TD Cowen has also reiterated a Buy rating and a price target of $1,300, citing strong performance and increased adoption of ServiceNow's Pro Plus product. BofA Securities and JMP Securities have raised their price targets for ServiceNow to $1,280 and $1,300 respectively, based on 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 are the latest developments in the ongoing story of ServiceNow's strategic growth and expansion.

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