Why AI Stock ServiceNow Sank by Almost 5% on Thursday

On Thursday, numerous stocks saw steeper-than-average drops when news items concerning them combined with generally gloomy investor sentiment.One such victim was next-generation business software developer ServiceNow (NYSE: NOW), which saw its stock absorb a more than 5% blow to its share price that day. An analyst's price target reduction convinced some investors to hit the sell button. The S&P 500 index, meanwhile, slipped by 3.5% that session. Well before market open, Kash Rangan from influential investment bank Goldman Sachs reset his fair value assessment on ServiceNow. The new level is $1,050 per share, $150 below its previous mark; however, the analyst maintained his buy recommendation on the shares. Continue reading

Apr 11, 2025 - 00:34

Why AI Stock ServiceNow Sank by Almost 5% on Thursday

On Thursday, numerous stocks saw steeper-than-average drops when news items concerning them combined with generally gloomy investor sentiment.

One such victim was next-generation business software developer ServiceNow (NYSE: NOW), which saw its stock absorb a more than 5% blow to its share price that day. An analyst's price target reduction convinced some investors to hit the sell button. The S&P 500 index, meanwhile, slipped by 3.5% that session.

Well before market open, Kash Rangan from influential investment bank Goldman Sachs reset his fair value assessment on ServiceNow. The new level is $1,050 per share, $150 below its previous mark; however, the analyst maintained his buy recommendation on the shares.