ServiceNow Sees FY26 Subscription Revenue of $15.53B-$15.57B

Written by Emily J. Thompson, Senior Investment Analyst

NOW-1.65%

Updated: 9h ago

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ServiceNow sees FY26 subscription revenue $15.53B-$15.57B

NOW

$129.62+Infinity%1D

Analyst Views on NOW

Wall Street analysts forecast NOW stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NOW is 222.81 USD with a low forecast of 172.00 USD and a high forecast of 263.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

32 Analyst Rating

30 Buy

2 Hold

0 Sell

Strong Buy

Current: 131.800

Low

172.00

Averages

222.81

High

263.00

Current: 131.800

Low

172.00

Averages

222.81

High

263.00

BTIG

Buy

maintain

$200

2026-01-22

Reason

BTIG

Price Target

$200

AI Analysis

2026-01-22

maintain

Buy

Reason

BTIG keeps a Buy rating with $200 price target on ServiceNow but contends that the company continues to see strong traction with Now Assist among its larger customers, whereas smaller customers are earlier in the adoption curve, the analyst tells investors in a research note. Some customers remain cautious on Now Assist's cost, which has prompted NOW to run more pilots, accelerating evaluations and moving deals forward, BTIG adds, also stating that the stock belongs in the "Super 8", or MAG 7 + ServiceNow, ahead of its Q4 results next week.

Jefferies

Buy

downgrade

$230 -> $175

2026-01-22

Reason

Jefferies

Price Target

$230 -> $175

2026-01-22

downgrade

Buy

Reason

Jefferies lowered the firm's price target on ServiceNow to $175 from $230 but keeps a Buy rating on the shares. The firm expects ServiceNow to modestly beat on constant currency cRPO and subscription revenue, while its partner checks support at least an in-line quarter, the analyst tells investors in a research note. Buyside feedback suggests 19% constant currency subscription revenue growth will drive real enthusiasm, the firm added.

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Citi

Tyler Radke

Buy

downgrade

$235

2026-01-22

Reason

Citi

Tyler Radke

Price Target

$235

2026-01-22

downgrade

Buy

Reason

Citi analyst Tyler Radke lowered the firm's price target on ServiceNow to $235 from $250.60 and keeps a Buy rating on the shares.

BMO Capital

Outperform

NULL

downgrade

$230 -> $175

2026-01-21

Reason

BMO Capital

Price Target

$230 -> $175

2026-01-21

downgrade

Outperform

NULL

Reason

BMO Capital lowered the firm's price target on ServiceNow to $175 from $230 but keeps an Outperform rating on the shares. The company sees Q4 upside tension to constant-currency growth for both subscription revenue and CRPO, and believes that ServiceNow will guide roughly in line with current FY26 consensus for revenue growth rates, the analyst tells investors in a research note. The earnings report can also help alleviate concerns around durability of growth, BMO added.

About NOW

ServiceNow, Inc. provides an artificial intelligence (AI) platform for business transformation. The Company’s AI platform connects people, processes, data, and devices to increase productivity and maximize business outcomes. Its intelligent platform, the Now Platform, is a cloud-based solution that helps enterprises and organizations across public and private sectors digitize workflows. The workflow applications built on the Now Platform are organized into four primary areas: Technology, CRM and Industry, Core Business and Creator. Its products include IT Service Management, IT Operations Management, HR Service Delivery, ServiceNow AI Agents, AI Experience, Build Agent, ServiceNow AI Control Tower, AI Agent Fabric, RaptorDB, Workflow Data Fabric, Workplace Service Delivery, ServiceNow Platform Encryption, Telecommunications Service Operations Management, and others. The Company also offers identity security, helping organizations secure access across the enterprise.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.