- Shares of ServiceNow Inc (NYSE: NOW) received an $ 810 target price from Morgan Stanley. These are the details.
Shares of ServiceNow Inc (NYSE: NOW) received an $ 810 target price from Morgan Stanley. And Morgan Stanley analyst Keith Weiss raised the price target on ServiceNow from $ 807 while maintaining an “Overweight” rating on the shares.
The rating was adjusted following an acceleration to 38% year-over-year normalized billings growth in the fourth quarter.
And Weiss noted that $ 2.42 billion in subscription charges grew 33% year-over-year (or a 38% adjustment for the $ 80 million pull forward last year). This means the company exceeded consensus estimates of 5% (after averaging 2% year-to-date beats) and represents the strongest normalized growth in charges Weiss has seen from ServiceNow since in 2018.
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