ServiceNow Inc NOW reported mixed financial results. ServiceNow said second-quarter revenue rose 24% year-over-year to $1.75 billion, slightly missing estimates of $1.76 billion. The company reported quarterly adjusted earnings of $1.62 per share, beating estimates of $1.54 per share.
Shares of ServiceNow were down 6.4% at $419.89 in the premarket trading session.
Several analysts made changes to their price targets on ServiceNow following the results release.
Below are the analysts lowering the price target on ServiceNow.
- Keybanc lowered its price target on the stock from $567 to $520. However, Keybanc analyst Michael Turits maintains ServiceNow at Overweight.
- Piper Sandler lowered ServiceNow’s price target from $600 to $550. However, Piper Sandler analyst Rob Owens maintains an Overweight rating on the stock.
- Citigroup cut its price target on the stock from $600 to $575. However, Citigroup analyst Tyler Radke maintains a Buy rating on the stock.
- JMP Securities lowered its price target from $705 to $553. However, JMP Securities analyst Patrick Walravens maintains a Market Outperform rating on the stock.
- Mizuho lowered ServiceNow’s price target from $520 to $500. However, Mizuho analyst Gregg Moskowitz maintains ServiceNow at a Buy.
- Credit Suisse cut its price target on ServiceNow from $700 to $650. However, Credit Suisse analyst Phil Winslow maintains an Outperform rating on the stock.
- Barclays cut ServiceNow’s price target from $560 to $495. However, Barclays analyst Raimo Lenschow kept the stock Overweight.
- Stifel cut its price target on the stock from $550 to $500. Still, Stifel analyst Brad Reback maintains ServiceNow at a Buy.
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