BMO Capital analyst Keith Bachman raised the firm’s price target on ServiceNow to $630 from $515 and keeps an Outperform rating on the shares. The company’s Q2 earnings beat was “solid” with 24% constant currency CRPO growth and healthy margins, even though the 21.5% CRPO guide was disappointing, the analyst tells investors in a research note. The 60% price increase for GenAI infused SKUs seems optimistic, but ServiceNow should be able to successfully navigate the GenAI tension, the firm added.
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