In a report released today, David Hynes from Canaccord Genuity maintained a Buy rating on ServiceNow (NOW – Research Report), with a price target of $1,075.00.
David Hynes has given his Buy rating due to a combination of factors that highlight ServiceNow’s strategic positioning and growth potential. The company has demonstrated robust growth prospects, particularly through its AI initiatives, such as Agentic and Now Assist, which are expected to significantly contribute to its revenue trajectory. ServiceNow’s reaffirmation of its 2026 financial targets, including substantial subscription revenue growth and margin expansion, underscores its confidence in sustaining healthy growth despite macroeconomic uncertainties.
Additionally, the rapid scaling of Now Assist and the increasing adoption of higher-tier offerings reflect strong customer demand for advanced capabilities, particularly in AI. ServiceNow’s expansion into CRM and industry-specific workflows is also gaining momentum, positioning the company as a leader in creating a unified digital operating model. These elements collectively reinforce the view that ServiceNow is strategically advantaged in the enterprise software market, justifying the Buy rating.
Hynes covers the Technology sector, focusing on stocks such as ServiceNow, Procore Technologies, and Five9. According to TipRanks, Hynes has an average return of -0.3% and a 46.40% success rate on recommended stocks.
In another report released today, Needham also maintained a Buy rating on the stock with a $1,050.00 price target.