ServiceNow Security ACV Tops $1B as BofA Lifts Target to $150
NOW sits 60% above its 52-week low of $81.24.
Summary
ServiceNow's security and risk segment surpassed $1B in annual contract value, underscoring strong demand for its cybersecurity offerings amid enterprise AI adoption. Bank of America raised its price target to $150 from $130, citing 21.5% RPO growth and 23% subscription growth in Q2. The company also expanded its multi-year partnership with Tech Mahindra to integrate ServiceNow AI, with Tech Mahindra piloting internally and scaling customer rollouts. This follows strong Q2 results reported in July, where subscription revenue of $3.88B beat estimates and full-year guidance was raised. The security ACV milestone and analyst target increase reinforce the positive momentum in ServiceNow's AI-driven growth story.
At the time of this announcement, NOW was trading at $129.90 on NYSE in the Technology sector, with a market capitalization of approximately $134.2B. The 52-week trading range was $81.24 to $194.73. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.