TECH - Why ServiceNow Stock Is Down Monday | Benzinga
ServiceNow, Inc. (NYSE:NOW) shares are trading lower Monday after Guggenheim analyst John Difucci downgraded the stock from Neutral to Sell and announced a $640 price target.
The Details
According to a MarketWatch report, the Guggenheim analyst sees an "unfavorable" setup for ServiceNow through the second half of 2024 and does not see growth in ServiceNow’s subscription business. Difucci said the company will have to lower top-line subscription guidance for 2024 and the company's 2025 estimates are too high.
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On the other hand, Needham analyst Mike Cikos reiterated ServiceNow with a Buy and ...