ServiceNow (NOW) PT Raised to $620 at Cowen

January 28, 2021 7:06 AM EST
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Price: $548.93 --0%

Rating Summary:
    42 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 8 | New: 30
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Cowen analyst Derrick Wood raised the price target on ServiceNow (NYSE: NOW) to $620.00 (from $600.00) while maintaining an Outperform rating.

The analyst commented, "NOW delivered a stellar 4Q w/ 35% normalized cc sub billings growth well ahead of our 26% est., its largest beat in ~4 yrs. FY21 guide of 26-27% cc normalized was ahead of our 23% est. Workflow use-cases are broadening & the platform seems to be gaining new tentacles in the enterprise. Growth investments are brisk & NOW enters 2021 w/ significant momentum. Reiterate Outperform. Raise PT to $620."

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