ServiceNow price target raised to $1,150 from $1,025 at Jefferies

Jefferies analyst Samad Samana raised the firm’s price target on ServiceNow (NOW) to $1,150 from $1,025 and keeps a Buy rating on the shares. The company’s constant currency subscription revenue outlook was walked slightly higher due to the Q2 beat, but the outlook “appears conservative” given the first half results, says the analyst, who believes investors will look through the guidance and “reward the strong results.”