These Analysts Revise Their Forecasts On ServiceNow After Q2 Results

Core Insights - ServiceNow, Inc. reported second-quarter revenue of approximately $3.22 billion, exceeding the consensus estimate of $3.12 billion, and adjusted earnings of $4.09 per share, surpassing analyst expectations of $3.57 per share [1][2] - The company anticipates third-quarter subscription revenue between $3.26 billion and $3.265 billion and has raised its full-year subscription revenue outlook to a range of $12.775 billion to $12.795 billion, up from the previous guidance of $12.64 billion to $12.68 billion [2] Stock Performance - Following the earnings announcement, ServiceNow shares increased by 3.7%, trading at $991.49 [3] Analyst Ratings and Price Targets - Needham analyst Mike Cikos maintained a Buy rating and raised the price target from $1,050 to $1,200 [8] - B of A Securities analyst Brad Sills also maintained a Buy rating, increasing the price target from $1,110 to $1,200 [8] - Barclays analyst Raimo Lenschow maintained an Overweight rating and raised the price target from $1,200 to $1,210 [8] - Wells Fargo analyst Michael Turrin maintained an Overweight rating, increasing the price target from $1,150 to $1,225 [8] - BMO Capital analyst Keith Bachman maintained an Outperform rating and raised the price target from $1,150 to $1,160 [8] - UBS analyst Karl Keirstead maintained a Buy rating but lowered the price target from $1,125 to $1,100 [8] - Citigroup analyst Tyler Radke maintained a Buy rating and boosted the price target from $1,160 to $1,234 [8] - Piper Sandler analyst Rob Owens maintained an Overweight rating and raised the price target from $1,120 to $1,150 [8] - DA Davidson analyst Gil Luria maintained a Buy rating and increased the price target from $1,150 to $1,250 [8]