ServiceNow (NOW – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Samad Samana from Jefferies maintained a Buy rating on the stock and has a $1,250.00 price target.
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Samad Samana’s rating is based on ServiceNow’s strategic positioning to benefit from efficiency gains in federal agencies. The company’s platform is seen as a key driver of these gains, particularly through its AI Agents, which are expected to enhance the impact of the platform significantly. Feedback from federal IT leaders suggests a strong interest in adopting new modules and modernizing legacy systems, which positions ServiceNow as a potential beneficiary of government mandates for increased productivity and platform consolidation.
Moreover, ServiceNow’s recent launch of the Government Transformation Suite is designed to further address these efficiency needs. This suite aims to unify legacy tech stacks and improve return on investment for federal customers. The positive reception and interest in ServiceNow’s AI capabilities also suggest a promising adoption trend, reinforcing the company’s potential to capture a larger market share within the federal sector.
According to TipRanks, Samana is a 4-star analyst with an average return of 8.0% and a 52.42% success rate. Samana covers the Technology sector, focusing on stocks such as ServiceNow, Paylocity, and HubSpot.
In another report released on February 4, Citi also maintained a Buy rating on the stock with a $1,426.00 price target.