ServiceNow price target lowered to $1,000 from $1,200 at Raymond James

Raymond James analyst Adam Tindle lowered the firm’s price target on ServiceNow (NOW) to $1,000 from $1,200 and keeps an Outperform rating on the shares ahead of its 2025 Knowledge user conference and financial analyst day on May 6-8. The firm expects AI and agentic adoption and associated monetization to be the key topic of FAD 2025, and says its strategy to include agentic capabilities in its Pro+ tier rather than creating a separate SKU for AI likely accelerates adoption of AI and creates the potential for key reference customers, the analyst tells investors in a research note.