Analyse ServiceNow stock

Plausible, but ambitious.
124.22 EUR is around 33.7% above the current price of 92.92 EUR and therefore outside the required confirmation range of +/-25%. Therefore, an adjusted price target of EUR 116.00 is more appropriate.

Quantitative:
ServiceNow remains a qualitatively very strong software company with high scalability, robust free cash flow and structural growth in the enterprise workflow/AI area. The stated P/E ratio of 53.61 is not unusual for a high-growth SaaS company, but it does imply a lot of future growth. Compared to large-cap software peers, the valuation is rather high, but not extreme. The price is...