ServiceNow (NOW) PT Raised to $700 at BofA Securities; reiterated Buy/top pick into EPS
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Barclays is bullish on ServiceNow (NOW) and these 2 software stocks ahead of Q2 EPS
July 19, 2023 9:22 AM EDTBarclays analyst Raimo Lenschow weighed in on the U.S. software sector ahead of the Q2 earnings season.
The analyst argues that the Q2 EPS is not likely to act as a major catalyst due to tough comps and the fact that this is one of the last quarters in which cloud optimizations should be visible at full force.
As a result, Lenschow forecasts that Q3 and Q4 guidance could be more interesting. Barclays survey (VAR) showed a potential uptick for H2.
The VAR data for the macro came in weaker than last quarter, with the... More
ServiceNow (NOW) remains 'Top Pick' at Bank of America ahead of 2Q report
July 19, 2023 8:19 AM EDTBank of America reiterated a Buy rating on top pick, ServiceNow (NYSE: NOW) and raised their 12-month price target on the stock to $700.00 (From $600.00) after calls with nearly a dozen partners suggested healthy 2Q activity. NOW is expected to release 2Q earnings results on Wednesday, July 26th.
Most partners we spoke to characterized deal activity tracking above... More
