Jefferies analyst Samad Samana raised the firm’s price target on ServiceNow to $525 from $500 and keeps a Buy rating on the shares after the company reported Q1 subscription revenue and cRPO results the firm called "strong." Investors may "nitpick" management’s decision to raise the FY23 constant-currency subscription revenue outlook by less than the Q1 beat, but Jefferies appreciates management "embracing conservatism," the analyst tells investors.
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- ServiceNow price target raised to $551 from $535 at Barclays
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