ServiceNow (NOW) PT Lowered to $90 at Mizuho Securities; Positive Into Print

Mizuho Securities analyst Abhey Lamba reiterated a Buy but lowered its price target on ServiceNow (NYSE: NOW) to $90.00 (from $100.00) ahead of earnings next week where they expected upside.

Lamba commented: "ServiceNow is scheduled to report 4Q15 results on Wednesday, January 27 after the close. As is customary, we expect upside to most metrics for the quarter and believe management will offer its initial 2016 outlook slightly above consensus although there may be slight risk to 1Q16 billings due to increased seasonality. We continue to believe in management's execution against a large opportunity in front of them, however, we adjusted our PT to $90 from $100 to account for the risk of a tougher IT spending environment ahead. Maintain Buy"

For an analyst ratings summary and ratings history on ServiceNow click here. For more ratings news on ServiceNow click here.

Shares of ServiceNow closed at $74.41 yesterday.

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