ServiceNow price target lowered to $1,025 from $1,280 at BofA

BofA lowered the firm’s price target on ServiceNow (NOW) to $1,025 from $1,280 and keeps a Buy rating on the shares. Based on channel feedback, the firm expects Q1 cRPO growth to be in line with its 20.5% year-over-year constant currency growth forecast. However, given a more cautious tone from partners on the remainder of 2025, the firm lowers its Q2 and FY25 cRPO cc growth forecasts to 18.5% and 19%, from 19.5% and 21%, respectively.