ServiceNow price target lowered to $830 from $850 at BMO Capital

BMO Capital lowered the firm’s price target on ServiceNow to $830 from $850 and keeps an Outperform rating on the shares. The quarter was solid but unspectacular, with highlights that include 100 basis point beat in CRPO growth vs. guidance and solid free cash generation, the analyst tells investors in a research note. Investors may be modestly disappointed however that Subscription revenue guidance growth rate in constant currency remains relatively unchanged, the firm added.