RBC Capital raised the firm’s price target on ServiceNow (NOW) to $1,045 from $985 and keeps an Outperform rating on the shares. The company demonstrated nice upside while 2024 subscription revenue guidance moved higher by more than the beat, the analyst tells investors in a research note. ServiceNow execution remains impressive, and there were a number of positives from the quarter, led by increasing platform strength, robust Pro Plus/Now Assist adoption, the introduction of Workflow Data Fabric, and a building pipeline into year-end, the firm added.
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