ServiceNow price target lowered to $185 from $200 at BTIG

BTIG lowered the firm’s price target on ServiceNow (NOW) to $185 from $200 and keeps a Buy rating on the shares. The company’s FY26 subscription revenue growth guidance offers limited upside and appears aggressive, with any potential outperformance more likely to be driven by Now Assist Packs and M&A, the analyst tells investors in a research note. BTIG adds it believes consensus FY27 and FY28 subscription revenue growth estimates are too high.