Jefferies lowered the firm’s price target on ServiceNow (NOW) to $175 from $230 but keeps a Buy rating on the shares. The firm expects ServiceNow to modestly beat on constant currency cRPO and subscription revenue, while its partner checks support at least an in-line quarter, the analyst tells investors in a research note. Buyside feedback suggests 19% constant currency subscription revenue growth will drive real enthusiasm, the firm added.
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