ServiceNow (NOW) PT Raised to $1,300 at JMP Securities

JMP Securities analyst Patrick Walravens raised the price target on ServiceNow (NYSE: NOW) to $1,300.00 (from $1,000.00) while maintaining a Market Outperform rating.

The analyst comments: "We maintain our Market Outperform rating on ServiceNow and raise our price target from $1,000 to $1,300 after conducting channel checks and due diligence that yielded eight data points (eight positive), including the company’s biggest federal award in its history, a $198M award from the Department of the Treasury on December 12, and after the stock has increased 1% year to date and 42% for the last 12 months versus 2% year to date and 26% for the last 12 months for the Russell 3000."

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