ServiceNow price target lowered to $1,100 from $1,250 at Wells Fargo

Wells Fargo analyst Michael Turrin lowered the firm’s price target on ServiceNow (NOW) to $1,100 from $1,250 and keeps an Overweight rating on the shares ahead of quarterly results. The firm notes Q1 feedback came back largely positive, though Q1 is usually less consequential for ServiceNow’s business. Instead, expect upcoming Analyst Day and Fed/DOGE headlines remain more tangible catalysts as narrative unfolds, Wells adds, saying it remains positive.