ServiceNow partner checks ‘remain upbeat,’ says Evercore ISI

Evercore ISI analyst Kirk Materne says recent conversations with ServiceNow partners "remain upbeat on the whole" and it believes that the trends in the business remain solid. The firm, which is expecting "solid" fiscal Q1 results, says it "would not be surprised to see the stock continue to perform well on a relative basis" into the report and the analyst day on May 16. Evercore has an Outperform rating and $550 price target on ServiceNow shares.