KeyBanc cuts ServiceNow stock price target on deal slippage

KeyBanc reduced its price target on ServiceNow shares due to observed deal slippage, indicating delays or losses in enterprise contract conversions. This adjustment reflects concerns over near-term revenue visibility and execution risks in a potentially tightening corporate IT spending environment. The downgrade pressures ServiceNow’s stock, particularly as investors reassess growth assumptions amid elevated valuation multiples typical of enterprise SaaS names. ServiceNow shares are especially exposed to shifts in risk appetite for growth stocks and broader trends in cloud software demand. Traders will closely monitor the company’s upcoming quarterly earnings report for updates on sales cycle lengthening and renewal rates.

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