Why ServiceNow Stock Inched Higher on Monday
An analyst raised his price target on the enterprise software solutions developer.
Overview
An analyst's price target hike provided a bit of lift for ServiceNow (NYSE: NOW) stock as the trading week got underway on Monday. By the time the trading session ended, shares of the enterprise software company had risen by 1.6%.
That price target increase was substantial, too. The revision came from Cantor Fitzgerald's Thomas Blakey, who now believes ServiceNow's ceiling is $174 per share. Previously, he had set the price target at $141. Blakey maintained his overweight (i.e., buy) recommendation on the specialized tech stock.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.