ServiceNow price target raised to $551 from $535 at Barclays

Barclays analyst Raimo Lenschow raised the firm’s price target on ServiceNow to $551 from $535 and keeps an Overweight rating on the shares. ServiceNow reported a solid quarter and investors should appreciate management maintaining a more conservative guidance posture given the uncertain environment, the analyst tells investors in a research note. The firm says both top-line and profitability metrics outperformed in the quarter on an underlying basis.