ServiceNow price target lowered to $1,150 from $1,200 at Stifel

Stifel lowered the firm’s price target on ServiceNow (NOW) to $1,150 from $1,200 and keeps a Buy rating on the shares following a “solid print and commentary.” It appears that both enterprise and Federal agency spend for modern, marketing leading platforms accelerated quarter-over-quarter, which the firm views as positive for infrastructure names like Dynatrace (DT), Datadog (DDOG) and JFrog (FROG) when they report next week, the analyst tells investors.