Guggenheim raised its price target on ServiceNow (NYSE: NOW) to $120.00 (from $108.00) while maintaining a Buy rating.

Analyst Nate Cunningham continues to view the company as a best-in-class offering when it comes to growth at scale and FCF generation.

FY 2017 EPS estimate rises from $1.12 to $1.16 and FY 2018 EPS estimate rises from $1.66 to $1.69.