Stifel Bullish on ServiceNow (NOW) As Company Rebuilds Its Backlog Following Strong Year-End Push

ServiceNow, Inc. (NYSE:NOW) is featured in our list of the 15 Stocks Set to Explode in the Next 3 Years.

ServiceNow, Inc. (NYSE:NOW) continues to enjoy positive Wall Street sentiment, while recent analyst updates indicate that the street is recalibrating the near-term outlook of the stock. As of April 6, 2026, over 90% of covering analysts maintain “Buy” ratings on the stock, and the $180.00 consensus price target implies an upside of over 75%.

However, broader industry headwinds continue to weigh on ServiceNow, Inc. (NYSE:NOW). The company’s shares are down approximately 45% over the past six months and 35% year-to-date.

On April 2, 2026, Brad Reback of Stifel reduced ServiceNow, Inc. (NYSE:NOW)’s price target to $135 from $180, while keeping a “Buy” rating. Reback noted that system integrator checks had slightly declined from the previous quarter. Furthermore, the firm highlighted indications of seasonal pipeline rebuilding following a strong year-end push, while the weak U.S. federal spending backdrop continues to act as a headwind.

On March 31, 2026, Wells Fargo also lowered ServiceNow, Inc. (NYSE:NOW)’s target to $185 from $225, but it maintained the stock’s “Overweight” rating. The firm stated that following a successful Q4 for enterprise software, Q1 seems less significant, whereas ServiceNow’s upcoming Knowledge conference and investor day may act as more significant potential catalysts for the stock.

ServiceNow, Inc. (NYSE:NOW) offers an AI platform for business transformation, boosting productivity and maximizing business outcomes. Its intelligent platform, Now Platform, provides end-to-end workflow automation for digital businesses. Now Platform functions as a cloud-based solution embedded with AI and ML.

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