Overview
- Wells Fargo on January 8 cut its ServiceNow price target to $225 from $255 and kept an Overweight rating.
- RBC Capital on January 5 lowered its target to $195 from $240 while maintaining Outperform, citing clearer AI benefits likely in 2026 and signs of stabilizing enterprise spend.
- Piper Sandler on January 5 reduced its target to $200 from $230 with an Overweight view, calling 2025 difficult for security and infrastructure software but expressing cautious optimism for 2026.
- Cantor Fitzgerald reaffirmed Overweight with a $240 target, noting shares trade near a three‑year low on EV-to-estimated revenue and framing recent deals as total addressable market expansion rather than buying growth.
- Citi kept a Buy rating with a $250.60 target and said the Armis acquisition adds predictive security to ServiceNow’s AI Control Tower but is not transformative, even as it represents the company’s largest deal.