ServiceNow, Inc.’s Stock Price Drops to $766.20, Marking a 4.99% Decrease: Here’s What Investors Need to Know

ServiceNow, Inc. (NOW)

766.20 USD -40.27 (-4.99%) Volume: 2.02M

ServiceNow, Inc.’s stock price is currently at 766.20 USD, experiencing a 4.99% decrease in this trading session with a trading volume of 2.02M. Despite this, the stock still boasts a positive year-to-date percentage change of +8.45%, showcasing its resilience and potential for growth in the market.

Latest developments on ServiceNow, Inc.

ServiceNow Inc. (NYSE:NOW) has been experiencing significant stock price movements recently. Guggenheim’s downgrade of the stock due to potential risks in the second half of 2024 has caused a dip in its value, leading to its first ‘sell’ rating. Despite this, Needham & Company LLC has given the stock a ‘buy’ rating, highlighting strong growth potential. The conflicting analyst opinions have created a mixed outlook for the company. As the stock faces fluctuations, investors are eyeing new buying opportunities, with some seeing the current weakness as a chance to capitalize on aggressive buying. The GenAI concerns have been a focal point for analysts, contributing to the stock’s recent decline. With the stock price gap down to $806.47, investors are closely monitoring the situation to make informed decisions about their investments in ServiceNow Inc.

ServiceNow, Inc. on Smartkarma

Analysts at Baptista Research have been closely monitoring Servicenow Inc, a company that has shown impressive growth in recent quarters. In a report titled “ServiceNow Inc: How Will The Adoption of GenAI Technology Impact Their Future Revenues & Profitability? – Major Drivers,” they highlighted the company’s strong first quarter in 2024, surpassing guidance on all key metrics. Subscription revenue grew by 24.5% year-over-year, and current remaining performance obligations (CRPO) rose by 21% year-over-year, exceeding the company’s expectations.

Another report by Baptista Research, “ServiceNow Inc: The Increasing Scope Of Its Gen AI technology And Other Major Drivers,” emphasized the growth potential of ServiceNow Inc fueled by artificial intelligence. The company’s Q4 2023 earnings showcased a 25.5% growth in subscription revenue and a 23% increase in CRPO, both surpassing guidance. With 168 deals exceeding $1 million in net new ACV, a 33% increase from the previous year, analysts remain bullish on the company’s future prospects.

A look at ServiceNow, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

ServiceNow Inc. has a mixed outlook according to Smartkarma Smart Scores. While the company scores high in growth, resilience, and momentum, its value and dividend scores are lower. This indicates that investors may expect strong performance in terms of growth and resilience, but may not see as much value or dividend return compared to other factors.

ServiceNow Inc. is a company that provides enterprise IT management software. With a strong focus on growth, resilience, and momentum, the company is positioned well for future success in the IT service management platform. Despite lower scores in value and dividend factors, ServiceNow continues to serve customers throughout the United States with its innovative software and cloud services.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma