ServiceNow price target lowered to $1,025 from $1,250 at Jefferies

Jefferies analyst Samad Samana lowered the firm’s price target on ServiceNow (NOW) to $1,025 from $1,250 and keeps a Buy rating on the shares. The firm expects ServiceNow to meet guidance for Q1 constant currency subscription revenue and cRPO but also does not anticipate much upside as its Q1 checks were mixed, but slightly more positive than market conditions would suggest, the analyst tells investors in a research note. ServiceNow partner outlook for Q2 was also more cautious, the firm added.