TD Cowen Raises ServiceNow (NOW) Price Target to $165

TD Cowen has reiterated its Buy rating on ServiceNow, raising the price target from $140 to $165, a 16.24% upside from the current price.

By EarningsIQ Research Desk · Published Oct 15, 2026, 9:18 PM EDT · Updated Oct 16, 2026, 8:15 PM EDT

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TD Cowen raised its price target on ServiceNow, Inc. ($NOW) to $165 from $140 on October 15, 2026, and rates the stock "Buy".

Since the rating, $NOW is down 4.4% to date (from the $148.57 close on Oct 15, 2026).

NOW ServiceNow, Inc.

$141.97 -3.72% year to date

Daily close · Oct 16, 2026

Key Points

On October 15, 2026, TD Cowen reiterated its Buy rating on ServiceNow, Inc. with a new price target of $165, up from $140.
TD Cowen's $165 price target implies 16.24% upside from ServiceNow, Inc.'s ($NOW) current $141.95 share price.
The stock recently traded around $141, which is below the new target and 26.9% below its 52-week high of $192.97.
ServiceNow has a strong revenue growth rate of 24% year-over-year and is set to announce its next earnings on October 28, 2026.

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TD Cowen has reiterated its Buy rating on ServiceNow, Inc. (NYSE: NOW) on October 15, 2026, raising the price target from $140 to $165. This comes as the stock recently traded around $141, indicating a gap between its current price and the analyst's target.

Analyst rating track record

TD Cowen vs. the S&P 500

YTD return +2.77% hypothetical

All-time return +2.77% S&P 500 +0.39%

vs. S&P 500 +2.38% ahead of the index

Hypothetical returns from TD Cowen's disclosed trades, not real profit or advice. How we model this.

TD Cowen's Call on ServiceNow

TD Cowen's new target reflects a positive outlook for ServiceNow, which provides cloud-based solutions for digital workflows. The firm maintains its Buy rating, suggesting confidence in the company's future performance.

Other Institutional Activity in ServiceNow

Several other institutional investors have also made adjustments to their positions in ServiceNow. Morgan Stanley increased its stake by 3,282,760 shares, bringing its total to about 26.6 million shares valued at approximately $3.78 billion. In contrast, Blackrock Inc. trimmed its holdings by 1,443,011 shares, ending with about 96.1 million shares worth around $13.64 billion. Vanguard Capital Management LLC also reduced its position, selling 625,391 shares to hold 67.4 million shares valued at about $9.56 billion. State Street Corporation increased its holdings by 980,380 shares, totaling approximately 49 million shares worth about $6.96 billion.

ServiceNow, Inc. Stock Up 1.4%

As of October 16, 2026, ServiceNow shares traded recently around $141, which is above its 50-day moving average of $133.73 and its 200-day average of $115.13. However, it remains about 26.9% below its 52-week high of $192.97 and 6.9% below the mean price target of $151.47 set by analysts.

12-month forecast

$NOW price target

ServiceNow, Inc. daily closes and this analyst's $165 target. Not advice.

Recent Earnings

ServiceNow reported trailing twelve-month revenue of $14.73 billion, with a net margin of 11.3% and a return on equity of 14.2%. The next earnings report is scheduled for October 28, 2026, and could provide further insights into its financial performance.

Insider Buying and Selling at ServiceNow, Inc.

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

Analysts Set New Price Targets

On October 15, 2026, TD Cowen maintained its Buy rating on ServiceNow with a price target of $165. The same day, Mizuho also maintained its Outperform rating, increasing its target from $140 to $170. Earlier, on October 13, 2026, Citigroup maintained a Buy rating with a target of $170, while Evercore ISI Group and Barclays also maintained their ratings with targets of $175 and $160, respectively.

About ServiceNow

ServiceNow, Inc. provides cloud-based solutions for digital workflows across various sectors. The company's services include IT service management, asset management, and customer service management. With a market capitalization of approximately $153.6 billion, ServiceNow continues to expand its offerings and market reach.

Bottom Line

Investors should keep an eye on ServiceNow's upcoming earnings report on October 28, 2026, as well as any further updates from analysts. TD Cowen's reaffirmed Buy rating and higher price target reflect confidence in the company's growth potential.