ServiceNow Faces Mixed Analyst Opinions: Guggenheim Downgrades While Needham Sees Strong Growth Potential

https://markets.businessinsider.com/news/stocks/servicenow-faces-mixed-analyst-opinions-guggenheim-downgrades-while-needham-sees-strong-growth-potential-1033537029

Shares are trading lower after Guggenheim analyst John Difucci downgraded the stock from Neutral to Sell with a $640 price target.

Needham analyst Mike Cikos reiterated ServiceNow with a Buy and a $900 price target.

Cikos noted that in each of the past five quarters, ServiceNow has surpassed quarterly cRPO and Subscription Revenue guidance.

ServiceNow is benefiting from a product cycle with the launch of Pro Plus in September 2023, layering an incremental tailwind through increased ASPs, as per Cikos.