Oppenheimer Raises ServiceNow (NOW) Price Target to $165

Oppenheimer has reiterated its Outperform rating on ServiceNow, Inc. (NYSE: NOW) on October 13, 2026, raising the price target from $140 to $165. This reflects a positive outlook for the company amid a competitive technology landscape.

Oppenheimer's Call on ServiceNow

Oppenheimer maintained its Outperform rating and increased its price target to $165. This change comes as part of a broader trend among analysts, with several firms also maintaining positive ratings on ServiceNow. The stock is viewed favorably, especially given its recent performance and growth potential.

Other Institutional Activity in ServiceNow

Several other institutional investors have also adjusted their positions in ServiceNow recently. Morgan Stanley increased its holdings by 3,282,760 shares, bringing its total to about 26.6 million shares valued at approximately $3.78 billion. State Street Corporation added 980,380 shares, totaling around 49 million shares worth about $6.96 billion. Meanwhile, Blackrock Inc. and Vanguard Capital Management LLC both reduced their stakes slightly, with Blackrock trimming 1,443,011 shares to about 96 million shares valued at around $13.64 billion, and Vanguard cutting 625,391 shares to about 67.4 million shares worth about $9.56 billion.

ServiceNow, Inc. Stock Up 0.3%

ServiceNow shares recently traded around $140.41 as of October 16, 2026. This price is 5% above the 50-day moving average of $133.73 and 22% above the 200-day moving average of $115.13. However, the stock is still 14.9% below the analyst mean price target of $151.47 and 27.2% under its 52-week high of $192.97.

Recent Earnings

ServiceNow reported trailing twelve-month revenue of about $14.73 billion, reflecting a 24% year-over-year growth. The company's earnings per share (EPS) for the same period was $1.72. The next earnings report is scheduled for October 28, 2026, which could provide further insights into the company's ongoing performance.

Insider Buying and Selling at ServiceNow, Inc.

Recent insider transactions include several sales by Paul Edward Chamberlain, a Director, who sold 1,500 shares on August 13, 2026, for a total value of $188,400 at an average price of $125.60. He also sold 2,700 shares on August 27, 2026, valued at $365,851 at an average price of $135.50. Jacqueline P. Canney, an Officer, sold 7,847 shares on August 28, 2026, for $1,082,886 at an average price of $138.00. Paul G. Fipps, another Officer, sold 2,034 shares on August 31, 2026, valued at $300,777 at an average price of $147.87.

Analysts Set New Price Targets

On October 13, 2026, Evercore ISI Group maintained its Outperform rating with a price target of $175. Barclays also maintained an Overweight rating, raising its target to $160. Wells Fargo kept its Overweight rating with a new target of $190. Citigroup later maintained a Buy rating with a price target of $170 on October 14, 2026. The consensus among analysts is a strong buy, with a mean price target of approximately $151.47 from 46 analysts.

About ServiceNow

ServiceNow, Inc. specializes in cloud-based solutions for digital workflows across various industries. The company focuses on areas like IT service management and integrated risk management, helping organizations streamline their operations. With a market cap of about $153.6 billion, ServiceNow continues to show robust growth potential, as highlighted by its recent earnings and analyst ratings.

Bottom Line

Investors should keep an eye on ServiceNow's upcoming earnings report on October 28, 2026, as it may provide further insights into the company's performance. Oppenheimer's recent rating and target increase could signal confidence in the company's future growth.