Argus analyst Joseph Bonner raised his price target on ServiceNow to $170, saying the stock remains "favorably valued by historical standards" despite its recent run-up. Bonner notes that the company offerings to make IT services more manageable and efficient serve to lower the cost of ownership for clients, forecasting "solid revenue and profit outlook" for the next few years. The analyst keeps his Buy rating on ServiceNow.

Citi analyst Tyler Radke raised the firm's price target on ServiceNow to $906 from $896 and keeps a Buy rating on the shares. The analyst maintains a positive view on ServiceNow, holding estimates just above the high end of guidance as the firm's partner checks suggest solid demand and further Pro Plus interest. Commentary continued a similarly positive tone to Q4, as partners saw larger deal sizes and stronger pipelines than this time last year, the analyst tells investors in a research note. Citi says that while the shares have outperformed peers and the current valuation creates a high bar, a "beat/raise" quarter heading into the analyst and second half of 2024 growth acceleration "provide a positive event path."