- RBC Capital analyst Alex Zukin has raised the price target of ServiceNow (NYSE:NOW) from $510 to $600
Royal Bank of Canada Capital analyst Alex Zukin has raised the price target of ServiceNow (NYSE:NOW) from $510 to $600. Zukin rated the stock as an “outperform” rating.
Zukin has been steadily increasing ServiceNow’s price target over the past few months.
For example, Zujin increased its price target from $372 in July to $500. At that time, Zukin pointed out that ServiceNow is positioned as a beneficiary of recent and long-term remote work trends.
Recently, it was announced that ServiceNow has become the official workflow partner of the NBA and WNBA. As part of a multi-year partnership, ServiceNow will provide the products and technologies needed to create and streamline workflows on the NBA and WNBA.
RBC is not the only financial company to increase ServiceNow’s price targets. Earlier this month, Barclays Bank gave the company an “overweight” rating and raised its target stock price from $486 to $581. JMP Securities raised its target stock price from US$460 to US$534 and rated it as “outperforming the market.”
The target price of $600 has 17.9% upside potential compared to the last closing price.
Disclosure: ServiceNow is very small in my stock portfolio.
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