ServiceNow price target raised to $1,160 from $1,128 at Citi

Citi analyst Tyler Radke raised the firm’s price target on ServiceNow (NOW) to $1,160 from $1,128 and keeps a Buy rating on the shares following the analyst day. The company’s fiscal 2026 subscription revenue target of $15B was maintained and fiscal 2027 targets were focused on margins, the analyst tells investors in a research note. Citi came away a “bit less enthused” relative to last analyst day given fewer longer term updates, but thinks the updated targets are fair given the uncertain macro environment.