RBC Capital analyst Matt Hedberg raised his price target on ServiceNow to $285 and kept his Top Pick rating after the company's analyst day, saying its focus on sustainable and profitable growth at scale should allow its revenue to top $10B from over $4B in 2020. The analyst cites the management's plans for the "underpenetrated" enterprise digital workflows and product innovation, pointing to the commentary by ServiceNow CEO signalling that cloud transformation "remains in the early-innings."

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."