Barclays analyst Raimo Lenschow raised his price target for ServiceNow to $180 saying the company is not just a play on the IT Service Management market, but a platform offering that can address workflows in all parts of the enterprise. Many investors still do not understand ServiceNow very well, Lenschow tells investors in a research note. The analyst sees "meaningful upside" to the company's long-term guidance and keeps an Overweight rating on the shares.

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."