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UPDATE: FBN Securities Reiterates On ServiceNow Following Another Fine Quarter

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Courtesy of Benzinga.

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In a report published Monday, FBN Securities analyst Shebly Seyrafi reiterated an Outperform rating on ServiceNow (NYSE: NOW), and raised the price target from $80.00 to $85.00.

In the report, FBN Securities noted, “We reiterate our Outperform rating on NOW and raise our PT from $80 to $85. The company yet again delivered a very strong quarter with revenue and billings up 61% Y/Y and 58% Y/Y, respectively (and nicely above consensus), with large deals growing well (deals over $1M almost quadrupled to 11), and broad-based geographic growth (N. America, Europe, and APJ were up 56%, 70%, and 73% Y/Y, respectively). NOW has 107 customers with an annual contract value (ACV) of over $1M, more than double what it had a year before.”

ServiceNow closed on Friday at $65.45.

Latest Ratings for NOW

Date Firm Action From To
Oct 2014 Citigroup Maintains Buy
Oct 2014 Canaccord Genuity Maintains Buy
Oct 2014 Barclays Maintains Overweight

View More Analyst Ratings for NOW
View the Latest Analyst Ratings

Posted-In: FBN Securities Shebly SeyrafiAnalyst Color Price Target Analyst Ratings

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