BTIG Rates ServiceNow (NOW) Buy, $170 Price Target

BTIG has reiterated its Buy rating on ServiceNow, Inc. (NYSE: NOW), maintaining a price target of $170 as of October 12, 2026. This is the same target previously set by the firm.

Other Institutional Activity in ServiceNow

Several institutional investors have adjusted their positions in ServiceNow recently. Blackrock Inc. trimmed its stake by 1,443,011 shares, holding 96,057,763 shares valued at about $13.6 billion. Vanguard Capital Management LLC reduced its holdings by 625,391 shares, ending with 67,351,838 shares worth around $9.6 billion. State Street Corporation increased its position by 980,380 shares, bringing its total to 49,038,218 shares valued at approximately $6.96 billion. Morgan Stanley grew its stake by 3,282,760 shares, holding 26,630,984 shares worth about $3.78 billion, while Vanguard Portfolio Management LLC added 12,586 shares, totaling 25,184,743 shares valued at around $3.58 billion.

ServiceNow, Inc. Stock Up 0.3%

ServiceNow shares recently traded around $140.41, which is above its 50-day moving average of $133.73 by about 5.0% and above its 200-day average of $115.13 by approximately 22.0%. However, this price is about 27.2% below the stock's 52-week high of $192.97. The stock is also about 7.3% below the mean analyst target of $151.47.

Recent Earnings

For the trailing twelve months, ServiceNow reported revenue of approximately $14.73 billion and earnings per share (EPS) of $1.72. The company has shown strong performance with a year-over-year revenue growth of 24.0% and a net margin of 11.3%. The next earnings report is scheduled for October 28, 2026.

Insider Buying and Selling at ServiceNow, Inc.

There have been several insider sales at ServiceNow. Paul Edward Chamberlain, a Director, sold 1,500 shares on August 13, 2026, at an average price of $125.60, totaling about $188,400. He also sold 2,700 shares on August 27, 2026, for approximately $365,851 at an average price of $135.50. Officer Jacqueline P Canney sold 7,847 shares on August 28, 2026, at an average price of $138.00, amounting to about $1,082,886. Additionally, Officer Paul G. Fipps sold 2,034 shares on August 31, 2026, at an average price of $147.87, totaling around $300,777.

Analysts Set New Price Targets

On October 13, 2026, several firms maintained their ratings on ServiceNow. Evercore ISI Group kept its rating at Outperform with a target of $175, up from $160. Barclays maintained an Overweight rating with a target of $160, increased from $134. Wells Fargo also kept its Overweight rating, lifting its target to $190 from $175. Oppenheimer maintained its Outperform rating with a target of $165, raised from $140. Citigroup reaffirmed its Buy rating with a target of $170, up from $154. The consensus recommendation for ServiceNow is a strong Buy, with a mean price target of approximately $151.47 from 46 analysts.

About ServiceNow

ServiceNow, Inc. provides cloud-based solutions for digital workflows across various sectors, including IT service management and asset management. The company operates globally, serving clients in North America, Europe, and Asia. The recent analyst call reflects the positive outlook on ServiceNow's growth, especially following its impressive revenue growth.

Bottom Line

Investors will be watching ServiceNow closely as it approaches its next earnings date on October 28, 2026. With a strong Buy rating and multiple analysts setting ambitious price targets, the company appears to have solid backing from the market. This call by BTIG adds to the positive sentiment surrounding ServiceNow's growth potential.