ServiceNow

NOW · NYSE

$149.54+$4.18 (+2.88%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $145.36

NOW analyst rating

BuyConsensus of 34 analysts over the last 12 months. 88% rate it a buy.

Strong buy0
Buy30
Hold2
Underperform2
Sell0

12-month price target · 49 analysts

Average $152.02 (+1.7% upside)

Low: $72.72
Now: $149.54
High: $260.40

Upgrades and downgrades

The latest rating actions, newest first

NOW analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
StoneX	Oct 19, 2026	Maintains	Buy	$130.00 → $165.00	78%
Piper Sandler	Oct 16, 2026	Maintains	Overweight	$140.00 → $175.00	73%
Mizuho	Oct 15, 2026	Maintains	Outperform	$140.00 → $170.00	61%
TD Cowen	Oct 15, 2026	Maintains	Buy	$140.00 → $165.00	60%
Citigroup	Oct 14, 2026	Maintains	Buy	$154.00 → $170.00	56%
Evercore ISI Group	Oct 13, 2026	Maintains	Outperform	$160.00 → $175.00	59%
Barclays	Oct 13, 2026	Maintains	Overweight	$134.00 → $160.00	56%
Wells Fargo	Oct 13, 2026	Maintains	Overweight	$175.00 → $190.00	49%
Oppenheimer	Oct 13, 2026	Maintains	Outperform	$140.00 → $165.00	46%
RBC Capital	Oct 12, 2026	Maintains	Outperform	$130.00 → $176.00	61%

The case for and against

Updated Oct 14, 2026

Bull case

ServiceNow is viewed positively because its workflow platform has evolved from IT service management into a broad enterprise system of record, giving it durable data gravity, strong CIO relationships, and meaningful cross-sell potential across IT, HR, security, customer service, and more. The company’s fundamentals remain compelling, with revenue expected to surpass $15 billion in CY26, free cash flow margins around 35%, more than 85% of new business coming from existing customers, and Security & Risk already above $1 billion in ARR and growing more than 30%. In addition, AI governance and monetization are becoming increasingly important growth drivers, with AI ACV set to surpass $1.5 billion this year, early renewals validating demand, and a hybrid pricing model that supports retention, expansion, and stronger long-term leverage.

Bear case

ServiceNow is vulnerable to multiple fundamental headwinds, including a likely valuation multiple contraction if quarterly results or guidance miss expectations and if key indicators such as Current Remaining Performance Obligations, Large Customer Growth, Free Cash Flow Margin Expansion, or Renewal Rates deteriorate. Its growth may also decelerate as the technology hype cycle matures, mainstream enterprise adoption requires longer evaluation cycles, sales and marketing spend rises to evangelize new products, and large-deal timing becomes more volatile. Further downside comes from concentration in IT service management, exposure to economic contraction and weaker SaaS spending, and intensifying competition that could pressure pricing, margins, and the company’s broader expansion into adjacent workflow markets.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.