Shares of ServiceNow Inc (NYSE:NOW) tanked in early trading on Thursday, despite the company reporting upbeat first-quarter results on Wednesday.

Here are the key analyst insights:

Goldman Sachs analyst Gabriela Borges reiterated a Buy rating, while slashing the price target from $188 to $163.

Needham analyst Mike Cikos reaffirmed a Buy rating, while cutting the price target from $155 to $115.

BTIG analyst Allan Verkhovski maintained a Buy rating, while lowering the price target from $185 to $150.

JPMorgan analyst Mark Murphy reiterated an Overweight rating, while slashing the price target from $195 to $145.

Check out other analyst stock ratings.

Goldman Sachs: ServiceNow guided to cRPO (current remaining performance obligations) growth of 19.5% year-on-year in constant currency terms for the second quarter, which implies around 17.25% organic growth, reflecting a slowdown from the first quarter's organic growth of around 20.0%, Borges said in a note.

Management indicated that the guidance was conservative due to the geopolitical situation that had led to "a few slipped on-premise deals in the Middle East" in the first quarter, she added.

"1Q is a seasonally weak quarter for Software and the buying cycles are likely becoming more back half weighted (as deal cycles get bigger and AI products may go through more testing/implementation), and ...