Mizuho Securities analyst Gregg Moskowitz has reiterated their bullish stance on NOW stock, giving a Buy rating on November 19.
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Gregg Moskowitz has given his Buy rating due to a combination of factors including ServiceNow’s strategic acquisition of Veza, a high-growth Identity Governance & Administration vendor. This acquisition is expected to enhance ServiceNow’s AI capabilities and risk management offerings, positioning the company strongly in the AI-driven market. Veza’s innovative platform provides crucial identity security features, which are essential for managing access in an increasingly autonomous AI environment.
Furthermore, ServiceNow’s ability to cross-sell Veza’s solutions to its existing enterprise customer base is anticipated to drive significant growth. The company’s focus on workflow automation and AI monetization also supports a positive outlook. These elements contribute to the confidence in ServiceNow’s potential for high growth in the coming years, justifying the Buy rating and the reiterated price target of $1,150.
In another report released on November 19, Wells Fargo also maintained a Buy rating on the stock with a $1,275.00 price target.
Based on the recent corporate insider activity of 183 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NOW in relation to earlier this year.