Analysts Stay Bullish on ServiceNow (NOW) Amid Armis Acquisition Talks

Core Viewpoint - ServiceNow, Inc. is actively pursuing growth through acquisitions, with a notable interest in acquiring cybersecurity startup Armis for approximately $7 billion, which would be its largest acquisition to date [2]. Group 1: Analyst Ratings and Price Targets - Citizens has reiterated a Market Outperform rating on ServiceNow, Inc. with a price target of $1,300 [1]. - Bernstein SocGen Group has also reaffirmed its Outperform rating, maintaining a price target of $1,093 despite a decline in stock price following the acquisition news [3]. Group 2: Acquisition Details - ServiceNow recently completed the acquisition of Moveworks for $2.85 billion, which was its largest purchase until the potential Armis deal [2]. - The acquisition of Armis is seen as a strategic move to enhance ServiceNow's cybersecurity capabilities [2]. Group 3: Market Valuation and Growth Outlook - Bernstein SocGen highlighted that ServiceNow is trading below other large-cap application software companies, suggesting it is undervalued in the current market [4]. - The firm does not anticipate a reduction in ServiceNow's organic growth guidance, supported by rising demand and positive channel checks [5]. Group 4: Company Overview - ServiceNow, Inc. is an American software and technology company that provides an AI platform designed to help organizations digitize, automate, and manage workflows for enterprise operations [5].