Oppenheimer Reiterates Outperform Rating on ServiceNow (NOW)

Oppenheimer analyst Brian Schwartz reiterated an Outperform rating and $130.00 price target on ServiceNow (NYSE: NOW).

The analyst commented: "This month, we conducted interviews (n=64) with ServiceNow customers to get a real-time update on enterprise IT budget trends, solutions prioritization, subscriber growth plans, and the AI cycle. The results suggest that overall demand and new software spending trends within the installed-base appear healthy despite pressure to headcount growth. ServiceNow's AI, IT, Risk and Security solutions are top investment priorities. The survey raises conviction for a stronger 2H:26 and potential reacceleration in 2027 for ServiceNow's business. That said, there is some angst among customers that, as agents replace entry-level customer and IT support positions, it will eliminate a worker pool with the necessary skills for Tier 2 & 3 support jobs. Though, the emergence of AGI in the future may resolve this concern. Reiterate Outperform."

For an analyst ratings summary and ratings history on ServiceNow click here. For more ratings news on ServiceNow click here.

Shares of ServiceNow closed at $102.13 yesterday.

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