ServiceNow's Subscription Revenue Growth to Exceed Over 20%, Analyst Predicts on the Back of AI-Powered Expansion
Portfolio Pulse from Lekha Gupta
Needham & Co analyst Mike Cikos initiated coverage of ServiceNow Inc (NYSE:NOW) with a Buy rating and a price target of $660. The analyst expects subscription revenue growth of over 20% and FCF Margin to increase from 30% due to the company's strong positioning with CIOs and AI-powered expansion.
June 14, 2023 | 4:51 pm
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ServiceNow's Buy rating and $660 price target by Needham & Co analyst Mike Cikos is driven by the company's strong positioning with CIOs and AI-powered expansion, expecting over 20% subscription revenue growth.
The Buy rating and price target of $660 by Needham & Co analyst Mike Cikos is based on ServiceNow's strong positioning with CIOs and AI-powered expansion. The analyst expects subscription revenue growth of over 20% and FCF Margin to increase from 30%, which is likely to have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100