Piper Sandler analyst Rob Owens lowered the firm’s price target on ServiceNow (NOW) to $200 from $230 and keeps an Overweight rating on the shares. The firm says 2025 proved to be a tough year for its Security & Infrastructure Software coverage, with the average name showing negative performance and only four names outperforming the NASDAQ. Piper is cautiously optimistic for a better year in 2026, with many names entering the year at interesting valuation levels setup well to be longer-term GenAI winners, despite monetization at the software layer not yet occurring at scale.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NOW:
- ServiceNow price target lowered to $195 from $240 at RBC Capital
- The End of Organic Scaling as Legacy SaaS Companies Lag the AI-Native Insurgents
- 3 ‘Strong Buy’ Stocks to Buy Today,12/24/2025, According to Top Analysts
- Citi likes ‘industrial logic’ of ServiceNow buying Armis
- Israeli Startups Raise $15.6 Billion in 2025 as AI and Cybersecurity Take Center Stage