ServiceNow Stock Outlook: Is Wall Street Bullish or Bearish?

ServiceNow, Inc. (NOW) is an enterprise software company specializing in AI-powered solutions that connect data, workflows, and systems to automate and streamline various business processes. Headquartered in Santa Clara, California, the company's offerings encompass IT, HR, customer service, security, finance, and more, enhancing productivity and operational efficiency.

However, NOW's stock performance has lagged behind the broader market. Since the previous year, NOW has declined by 32.1%, while the S&P 500 Index ($SPX) has risen by 20.1%. Similarly, on a year-to-date basis, NOW has fallen by 23.2% compared to the index's 13.1% gain. Despite these underperformance figures, the consensus among analysts remains strongly positive.

With 37 Strong Buy ratings, three Moderate Buys, three Holds, one Moderate Sell, and one Strong Sell, the average price target of $143.67 indicates a potential 22.1% upside from NOW's current share price. The most optimistic target stands at $248, suggesting a possible 110.7% upside. Despite some recent underperformance, certain analysts have raised their price targets for NOW, with Wells Fargo analyst Michael Turrin maintaining an Overweight rating and increasing the price target from $160 to $175.