Credit Suisse analyst Brad Zelnick raised hid price target for ServiceNow to $370 from $340 saying the company closed out 2019 with "strong" Q4 results and set fiscal year 2020 guidance in line with consensus, better than many investors feared. The analyst thinks new management "reinvigorates already strong fundamentals," while maintaining consistency on controlled reinvestment and disciplined, tuck-in M&A. He has an Outperform 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."