ServiceNow price target raised to $515 from $500 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on ServiceNow to $515 from $500 and keeps an Outperform rating on the shares, though the firm also removes the stock from its "preference lists" on the lack of upside to subscription revenue estimates. ServiceNow likely had a reasonable Q1 with results "largely within guidance parameters", but given the state of demand, the chance of the company exceeding 2023 guidance are "very limited", the analyst tells investors in a research note.