Piper Sandler lowered the firm’s price target on ServiceNow (NOW) to $1,120 from $1,200 on modestly lower terminal multiple, while keeping an Overweight rating on the shares. The firm says Q1 demonstrated strong execution with the biggest NNACV Q1 in company history. ServiceNow also beat across all top- and bottom-line metrics, with management highlighting momentum with AI modules, RaptorDB and CRM/Industry.
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