BUZZ-ServiceNow dips; TD Cowen cuts PT on acquisition concerns
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Software provider ServiceNow’sshares fall 1.4% to $152.20 TD Cowen cuts PT to $230 from $250, still an upside of 49% to stock’s last close Brokerage concerned about “NOW moving away from just tuck-ins to large M&A w/ beefy valuations, which questions health of organic growth & new integration risks” On Tuesday, NOW agreed to buy cybersecurity startup Armis for $7.75 bln Avg rating of 47 analysts is “buy;” their median PT is $230 - data compiled by LSEGUp to last close, stock has fallen 27.2% this year
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