** 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

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))