ServiceNow Shares Down 46% Annually as Goldman Targets $216, Wedbush Sees Rebound
ServiceNow shares have plunged 46% over the past year and 27.8% YTD despite Goldman Sachs setting a $216 target and projecting 20% annual growth through 2029. Wedbush’s Dan Ives calls the more-than 20% one-month selloff ‘the most disconnected trade’ and forecasts a rebound.
1. Share Performance and Price Targets
ServiceNow shares have declined 46% over the last year and 27.8% year-to-date. Goldman Sachs added the firm to its US Conviction List with a $216 price target and forecasts 20% annual revenue growth through 2029, while Truist trimmed its target to $175 from $240 and maintained a Buy rating.
2. Jim Cramer Endorsement
Jim Cramer praised ServiceNow as a ‘great company’ alongside Salesforce, highlighting its strong enterprise software position even as industry sentiment focuses on AI competitors such as Anthropic.
3. AI Selloff and Rebound Outlook
Wedbush’s Dan Ives characterized the more-than 20% one-month pullback in ServiceNow shares as ‘the most disconnected trade’, arguing that high switching costs, long-term contracts and early-stage AI monetization should support revenue growth and trigger a rebound.