Piper Sandler raised the firm’s price target on ServiceNow (NOW) to $1,000 from $850 and keeps an Overweight rating on the shares. The firm notes Q3 showed another solid set of results buoyed by large deal momentum and strong AI adoption. Of note, Now Assist reached 44 customers spending over $1M in Q3 evidencing the clear momentum around the broader AI play. Piper came away impressed with Q3’s execution and believes ServiceNow’s GenAI capabilities will continue to drive the company’s strategic positioning within large enterprises forward.
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