Capital One just took a pair of scissors to ServiceNow's target

Same stock, smaller number

Capital One Financial just lopped ServiceNow’s price target down to $113 from $158. The twist? It kept an Overweight rating, so this isn’t a full-on breakup—more like a messy haircut with the relationship still intact.

What that means for your portfolio

Analyst target cuts like this usually tell you two things at once:

• The easy upside has been trimmed after the stock’s recent move
• The firm still thinks ServiceNow deserves a premium multiple because the business is still doing ServiceNow things: sticky enterprise software, strong demand, and enough AI buzz to keep the bulls caffeinated

Why investors should care

ServiceNow has been in the middle of a Wall Street target-slasher marathon lately, which can make the stock feel like it’s being graded by a very harsh professor. But the fact that Capital One kept the bullish rating matters more than the lower number alone. It suggests the analyst still sees the shares as a buyable name—just not one with the same runway as before.

Big picture

If you own NOW, the headline sounds scarier than the fine print. The target got cut hard, sure, but the core message is still: “We like the stock, just not at quite that altitude.”