ServiceNow price target raised to $1,200 from $1,150 at Oppenheimer

Oppenheimer analyst Brian Schwartz raised the firm’s price target on ServiceNow (NOW) to $1,200 from $1,150 and keeps an Outperform rating on the shares. The firm notes ServiceNow reported solid Q4 results and guidance, but short of investors’ high expectations. The bar was already high and a lack of upward momentum to estimates will weigh on multiples, says Oppenheimer. Positively, the business continues executing well, has strong momentum with the AI business, and growing margins, the firm adds.