Oppenheimer analyst Ray McDonough raised the firm’s price target on ServiceNow to $640 from $500 and keeps an Outperform rating on the shares. The firm expects ServiceNow’s Q2 results to show good strength, and the company seems well-positioned to achieve its 2023 goals. Oppenheimer’s research mosaic points to solid enterprise business and top-of-funnel activities and healthy customer spending plans in the second half of 2023, and lends support to upside to consensus estimates in upcoming results.
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