- Shares of ServiceNow Inc (NYSE: NOW) received a $ 550 target price from Stifel. These are the details.
Shares of ServiceNow Inc (NYSE: NOW) received a $ 550 target price from Stifel. And Stifel analyst Brad Reback maintains a “Buy” rating on the shares.
Reback adjusted the rating after attending the ServiceNow analyst day before the annual user conference. And in the event, the company’s management updated their long -term model – raising subscription revenue targets in FY24 and FY26 by $ 1 billion each, to $ 11 billion and $ 16 billion, respectively.
And Reback said they expect to reach these growth levels organically. But Reback believes these targets are highly achievable and expects that ServiceNow’s expanding platform, growing pipeline, and big deal momentum should allow the company to maintain more than 20% revenue growth. and significant margin expansion.
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