ServiceNow price target raised to $511 from $478 at Guggenheim

Guggenheim analyst John DiFucci raised the firm’s price target on ServiceNow to $511 from $478 and keeps a Buy rating on the shares. The firm sees a favorable near-term setup for both the Q1 report and Q2 guidance, citing "surprisingly decent field checks" and a potentially strong U.S. Federal business, the analyst tells investors in an earnings preview note. While Guggenheim says there is "likely risk" to the long-term guidance, that "may not be updated until the 2023 Investor Day on May 16," the firm added.