ServiceNow price target lowered to $150 from $190 at Mizuho

Mizuho lowered the firm’s price target on ServiceNow (NOW) to $150 from $190 and keeps an Outperform rating on the shares. The firm adjusted targets in large-cap software as part of a Q1 preview. Mizuho’s channel checks were solid overall, with cloud and consumption data points “generally good” and AI adoption remaining “very strong,” the analyst tells investors in a research note. However, cybersecurity demand was mixed, contends the firm. Mizuho’s favorite stocks to own into the Q1 reports are Cloudflare, ServiceNow, and Atlassian.