ServiceNow price target raised to $485 from $460 at Canaccord

Canaccord analyst David Hynes raised the firm’s price target on ServiceNow to $485 from $460 and keeps a Buy rating on the shares. The analyst said its results show ServiceNow executed pretty well in what’s clearly a tough environment. Canaccord said while they remain quite constructive on the shares from a fundamental perspective, if they had to poke holes in this update, the company’s margin outlook for 2023 was a bit below expectations.