ServiceNow (NOW) Price Target Set at $85 by KeyBanc

AI Summary

KeyBanc has reiterated an Underweight rating on ServiceNow (NOW) and set a price target of $85 following its Financial Analyst Day, during which CEO Bill McDermott announced a goal of $30 billion in subscription revenue by 2030. This target represents a 17.5% compound annual growth rate from 2027 to 2030. Additionally, ServiceNow aims to maintain a rule of 60 or higher by 2030. Currently, 90% of analysts rate ServiceNow as a Buy, with an average price target of $140, indicating a potential 52.16% upside from the current price of $92.01.