ServiceNow (NOW) PT Raised to $1,275 at Canaccord Genuity

Canaccord Genuity analyst Richard Davis raised the price target on ServiceNow (NYSE: NOW) to $1,275.00 (from $1,200.00) while maintaining a Buy rating.

The analyst commented: "Look, it’s no secret that NOW shares are expensive, so we’re not surprised to see the stock giving a bit back after hours — currency moves created some noise with the print and guide, and perhaps it was a slightly skinnier beat than what was being priced in. That said, we picked up nothing on the call last night or in our call back with management that shakes our conviction in this story. If anything, it feels like ServiceNow’s strategic standing is solidifying, momentum with AI and now Agentic is accelerating, and the pricing construct sets up the model for the upside as AI adoption curves mature. This feels like a name where you need to just hold your nose on valuation and buy the stock — and there’s no better time than when it’s on sale. Our BUY rating is unchanged."

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