ServiceNow rises on upbeat Q1 profit

Shares of software company ServiceNow NOW.N rise 9.1% to $886.51 premarket

NOW beat Wall Street estimate for Q1 profit

At least four brokerages raise PTs on stock between $969 and $1,075, while two brokerages lower their PTs

Despite macro uncertainty, cautious sentiment from channel checks, and heightened scrutiny on NOW's U.S. Federal business heading into quarter, co delivered strong results that reinforce its leadership in enterprise AI - Scotiabank

Bernstein cuts PT to $1,003 from $1,021, but says if there is a recession, NOW may still be positioned to win

NOW's internal use of their AI tools is allowing them to slow hiring while increasing output - brokerage Bernstein

Co also announced that its president, global customer and field operations, Paul Smith, is stepping down and will be succeeded by Paul Fipps

Average rating of 47 brokerages covering NOW is "buy" - LSEG-compiled data

Up to last close, stock down ~23% this year