ServiceNow, Inc. (NYSE:NOW) posted better-than-expected second-quarter financial results on Wednesday.
ServiceNow reported second-quarter revenue of approximately $3.22 billion, beating the consensus estimate of $3.12 billion, according to Benzinga Pro. The company reported second-quarter adjusted earnings of $4.09 per share, beating analyst estimates of $3.57 per share.
"Our beat-and-raise quarter showcases the mission-critical nature of the ServiceNow AI Platform. Every business process in every industry is being refactored for agentic AI," said Bill McDermott, chairman and CEO of ServiceNow.
ServiceNow expects third-quarter subscription revenue of $3.26 billion to $3.265 billion. The company also increased its full-year subscription revenue outlook to $12.775 billion to $12.795 billion, up from prior guidance of $12.64 billion to $12.68 billion.
ServiceNow shares gained 3.7% to trade at $991.49 on Thursday.
These analysts made changes to their price targets on ServiceNow following earnings announcement.
- Needham analyst Mike Cikos maintained ServiceNow with a Buy and raised the price target from $1,050 to $1,200.
- B of A Securities analyst Brad Sills maintained the stock with a Buy and raised the price target from $1,110 to $1,200.
- Barclays analyst Raimo Lenschow maintained ServiceNow with an Overweight rating and raised the price target from $1,200 to $1,210.
- Wells Fargo analyst Michael Turrin maintained the stock with an Overweight rating and raised the price target from $1,150 to $1,225.
- BMO Capital analyst Keith Bachman maintained ServiceNow with an Outperform rating and raised the price target from $1,150 to $1,160.
- UBS analyst Karl Keirstead maintained ServiceNow with a Buy and lowered the price target from $1,125 to $1,100.
- Citigroup analyst Tyler Radke maintained ServiceNow with a Buy and boosted the price target from $1,160 to $1,234.
- Piper Sandler analyst Rob Owens maintained the stock with an Overweight rating and raised the price target from $1,120 to $1,150.
- DA Davidson analyst Gil Luria maintained the stock with a Buy and raised the price target from $1,150 to $1,250.
Considering buying NOW stock? Here’s what analysts think:
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