ServiceNow price target raised to $1,200 from $1,000 at Piper Sandler

Piper Sandler analyst Rob Owens raised the firm’s price target on ServiceNow (NOW) to $1,200 from $1,000 and keeps an Overweight rating on the shares. Turning the page to 2025, the firm still sees an active threat landscape buoyed by the threat of GenAI, increased geo-political tensions and broader concerns over protection of critical infrastructure. As the economy has stabilized, Piper notes IT spending intentions improved overall and are particularly strong for cyber, AI and key areas of infrastructure software.