Macquarie initiated coverage of ServiceNow (NOW) with a Neutral rating and $860 price target The firm views ServiceNow as a “great company but only a fair stock” at current share levels. The stock is trading at a premium to its software peers, the analyst tells investors in a research note. It believes easing negative software-as-a-service sentiment on artificial intelligence fears “could take time.”
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NOW:
- ServiceNow Hold Rating: Balancing Strengths with Valuation Concerns and Competitive Pressures
- Insider Moves: ServiceNow, Lam, Opendoor, Celsius, Vistra
- ServiceNow announces set of new and forthcoming integrations with Microsoft
- DA Davidson technology analysts hold an analyst/industry conference call
- Here’s Why Wall Street Is Queuing Behind MongoDB’s New CEO as MDB Stock Falls