ServiceNow (NYSE:NOW) shares rose 2.6% in pre-market trading to around $136 after several Wall Street firms raised their price targets on the enterprise software company.
Needham increased its price target on ServiceNow to $155 from $115, while BTIG raised its target to $170 from $150. The revisions followed continued analyst focus on the company’s artificial intelligence products and growth prospects.
Analyst Consensus Remains Positive
ServiceNow is covered by 55 Wall Street analysts, with approximately 83% carrying a Buy-equivalent rating, according to the supplied data.
The average 12-month analyst price target stands at approximately $148.81, compared with the pre-market share price of around $136.
ServiceNow was trading above its 52-week low of $81.24 but below its 52-week high of $194.73.
Shares Gain as Broader Market Declines
The advance came during a weaker session for the broader US equity market, with the S&P 500 down 0.8% and the Nasdaq declining 1.9%.
Other enterprise software companies, including Salesforce and Snowflake, were also trading against a weaker overall technology-market backdrop.
ServiceNow’s recent analyst revisions follow its latest quarterly results and continued development of its AI-focused platform offerings.
ServiceNow stock price
