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TheStreet

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Analysts reset ServiceNow stock price targets after earnings, AI update

Summary

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85% Informative

ServiceNow CEO Bill McDermott : "The secular shift to AI is validated and is unfolding in real-time" The cloud-computing platform company reported a net income of $ 3.72 , up 27% from a year ago , while revenue climbed 22.3% to $2.80 billion .

McDermott also announced that ServiceNow was expanding its partnership with heavyweight AI chipmaker Nvidia .

RBC Capital raised the firm's price target on ServiceNow to $ 1,000 from $ 980 .

Barclays said it believes ServiceNow shares “will continue to work once the dust settles around very short-term quarterly expectations” The company is delivering better sales growth than its peers at strong margin levels and has an emerging generative artificial intelligence story that seems credible.

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Neutral language

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formal

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English

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not hateful