Analysts Reaffirm Bullish Case for ServiceNow After 2025 Slide

Overview

• Oppenheimer reiterated a Buy on January 13 with a $200 price target, signaling about 68% upside.
• Evercore ISI on January 14 maintained Outperform with a $225 target, citing stable demand and increasing adoption of the Now Assist AI product.
• Piper Sandler on January 5 kept ServiceNow among its top software picks for 2026, trimmed its target to $200, and noted valuation near five‑year lows at roughly 29x EV/NTM FCF alongside investor concerns about seat counts, AI rollout pace, and sector-specific headwinds.
• Shares have fallen roughly 28%–32% over the past year and declined further to start 2026, setting the backdrop for the latest analyst calls.
• Coverage highlights strong fundamentals—about 98% customer retention, 30 straight earnings beats, and near 29% expected earnings growth—with market research pointing to sizable expansion in enterprise software and intelligent automation.