ServiceNow price target raised to $830 from $814 at Morgan Stanley

Morgan Stanley raised the firm’s price target on ServiceNow to $830 from $814 and keeps an Overweight rating on the shares. A smaller cRPO beat in Q1 was offset by above-consensus Q2 guidance and a raise to FY24 subscription revenue, says the analyst, who identifies the analyst day upcoming on May 6 and the potential for better cRPO growth in the second half as the next catalysts for the stock.