BofA lowered the firm’s price target on ServiceNow to $660 from $700 and keeps a Buy rating on the shares after having conducted calls with nearly a dozen partners. Feedback suggests stable Q3 deal activity, largely tracking to expectations, says the analyst, who thinks the growth rate is not expected to bottom until Q4. However, the firm thinks ServiceNow is “still early in consolidating three large opportunities,” namely ITSM, ITOM and custom apps.
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