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NOW · Analysis updated Nov 6, 2026, 9:54 AM ET
Why is ServiceNow (NOW) stock moving?
ServiceNow fell 5.9% on Nov 5 to $102.36. That is a new post-earnings low close, below the earlier $105.12 close on Oct 30. The stock had been steady near $109 in the prior sessions. Volume was about 25M shares, above the 15.7M average, so the selling was real. It came on no new company-specific negative news beyond reports of AI-related restructuring costs and continued worries that AI will disrupt software. The Oct 29 drop of about 27% followed a $0.02 adjusted EPS miss and a guided slowdown in Q4 cRPO growth. Revenue growth was 20.5% to $4.1B, and the 2026 AI contract value target was raised to $1.7B. Analysts remain constructive, with an average target near $157-$164 and mostly Buy ratings, though some have trimmed targets. The forward P/E of about 23x is near a five-year low. Shareholder-investigation notices, sector weakness and the failed hold of the $103.5 low argue for caution in the near term. A new low on rising volume weakens the view that the stock had stabilised. The next major catalyst is the Q4 report.
News behind the analysis
- ServiceNow (NYSE:NOW) Shares Down 6% - Should You Sell?Shares fell 6% to $102.24 on Nov 5 on volume 14% above average. Barclays kept an overweight rating with a $152 target after earnings.
- ServiceNow stock trades lower as AI execution bar risesThe stock was under pressure after the Nov 4 expansion of the LTM alliance, which covers more than 700 shared customers. The 2026 AI contract value target was raised to $1.7B, which raises the bar for converting AI deals into revenue.
- ServiceNow stock faces fresh test as AI restructuring expandsA report on AI-related restructuring points to elevated severance costs, and the number of affected roles is undisclosed. The shares traded at 90.82 euros in Europe on Nov 6.
- ServiceNow, Inc. (NOW) Stock Price, News, Quote & HistoryQ3 revenue grew 20.5% with stronger AI monetization, but EPS missed and Q4 cRPO growth is slowing. Partnerships with the NBA, OpenAI, LTM and KORE are expanding. Argus reiterated Buy with a $170 target on Nov 3.
- ServiceNow Earnings: Guidance Marred by Multiple Nuances, Still Waiting for AI-Driven AccelerationMorningstar notes that Q3 revenue rose 20.5% to $4.1B and adjusted EPS missed consensus by $0.02. It says the shares fell roughly 25% on the report.
- ServiceNow Inc Stock Price TodayQ3 revenue of $4.11B beat estimates by $20M, but adjusted EPS of $1.00 missed by $0.02. Keysight adopted ServiceNow CPQ and cut quote processing time 40%.
- ServiceNow Inc (NOW) Stock Price & News - Google FinanceThe stock closed at $102.36, down 5.93%, on Nov 5. Analyst targets average $163.50. The market cap is about $106B.
- NOW Stock Price and Chart — TradingViewThe average 12-month price target fell to $157.49, about 45% above the Nov 4 close. Consensus is Buy, with 44 Buy, 3 Hold and 2 Sell ratings.
- ServiceNow, Inc. Stock Price: Quote, Forecast, Splits & News (NOW)Shares consolidated near $109 after the roughly 27% plunge on weaker Q4 cRPO guidance. Forward P/E is about 23x, near a five-year low, as analysts trim EPS estimates.
- ServiceNow, Inc. (NOW) Stock Price & OverviewThe page lists shareholder investigation notices and partnership news with the NBA, LTM and Keysight following the record drop.
In the Daily Standout
- October 29, 2026: on the shortlist −24.33%