6h agoThe FlyBEARISH 38Analyst
Archived explainer. For the current picture see today's NOW page.
Why Is SERVICENOW INC (NOW) Stock Down Today?
By the Top Tier Newswire AI Desk · October 29, 2026 at 9:35 AM ET · reviewed against 92 wire stories
SERVICENOW INC (NOW) is down -23.89% in the latest session. Our newswire has captured 92 stories on NOW across 24 sources in the last 36 hours, with AI sentiment reading mixed (avg 47/100).
Public view, delayed 4h. Every headline, price and sentiment read below — and this write-up itself — reaches Pro subscribers live. Public readers see it once it clears the delay.
ServiceNow shares fell 23.89% to close at $114.27, marking the largest intraday drop since 2016. The primary driver was a forecast for slower growth in contracted revenue, which overshadowed a quarterly revenue beat and a raised AI target.
What Happened
The stock gapped down 19.0% at the open to $121.61 from the prior close of $150.13. Traders interpreted the guidance for a deceleration in contracted revenue as a warning sign for the broader enterprise software sector. Despite the revenue beat, the market focused on the projected slowdown in new business.
Analysts reacted swiftly to the earnings release. TD Cowen lowered its price target to $160 from $165, while RBC Capital cut its target to $165 from $176. BTIG maintained a Buy rating but lowered its price target to $150. Oppenheimer and Cantor Fitzgerald maintained their Outperform and Overweight ratings, respectively, with price targets of $165 and $201. The move weighed on peers, with Salesforce sliding 6% and Workday dropping 5%.
What The Data Shows
The session low of $113.35 was reached at 9:30 AM ET, with the stock closing near that level. Volume stood at 6.0 million shares, which is 0.3 times the three-month daily average. The stock printed four fresh 52-week lows on October 29, 2026. Fundamentals show a market cap of $160.0 billion and a P/E of 93.8, with trailing twelve-month revenue growth of 22.2%.
Unusual options activity included $2.0 million in put premium versus no call premium. Insider filings over the last 90 days show four sales totaling $1.9 million and no buys. Congressional trades in the same period included nine buys and eight sells. Retail sentiment has deteriorated, with the 30-day average sentiment score at 55 and the last seven days at 50.
What To Watch
Investors will monitor the broader software sector for similar guidance patterns following the earnings release. The stock's position near its 52-week low and the recent insider selling activity may continue to influence near-term price action.
AI-assisted analysis composed exclusively from headlines and data on the Top Tier newswire. Public view is delayed 4 hours from real time. Not financial advice.
NOW by the numbers
Last: $114.27Session: -23.89%7 sessions: -4.93%Coverage: 92 stories / 24 sourcesAI sentiment: 47/100 (mixed)Mkt cap: $160.0BP/E: 93.852w: $81.24 to $192.97
The headlines behind the move
6h agoThe FlyBEARISH 34Analyst
ServiceNow price target lowered to $165 from $176 at RBC Capital
6h agoFidelity NewsBEARISH 42Earnings
US STOCKS-Wall St set for lower open as Alphabet results reignite AI spending fears
* Futures down: Dow 0.24%, S&P 500 0.4%, Nasdaq 1.22% * Alphabet set to erase over $450 bln in market value, if losses hold. * Microsoft (MSFT.NaE) rises as cloud growth, cash flow offer respite. * Software stocks fall after Fortinet (FTNT.NaE), ServiceNow (NOW.NaE) results. By Shashwat Chauhan and Utkarsh Hathi.
6h ago24/7 Wall St.BEARISH 31Earnings
ServiceNow Tumbles 19% as Slower Contract Growth Overshadows Raised AI Target; Salesforce Slides 6%, Workday Drops 5%
A revenue beat and a higher AI target weren’t enough to protect ServiceNow (NYSE:NOW), because its forecast for slower growth in contracted revenue is reading as a warning for enterprise software as a whole. ServiceNow stock is at $122, down 19% in morning trading. Across the software group, Salesforce (NYSE:CRM) stock is at $228, down […]
6h agoInvesting.com MarketsBEARISH 34Earnings
ServiceNow stock tumbles after earnings: Buy the dip or stay put?
ServiceNow stock tumbles after earnings: Buy the dip or stay put?
6h agoGuruFocusBEARISH 22Earnings
ServiceNow (NOW) Shares Drop 20% Premarket After Disappointing Q4 Forecast
6h ago24/7 Wall St.BULLISH 64Analyst
ServiceNow Remains Down 20% Over 1 Year: This Prominent Wall Street Firm Expects 75% Gains Ahead
One Wall Street firm sees ServiceNow surging far beyond what any other analyst projects, even as the stock sits in a deep hole and fresh earnings raised new doubts about the AI revenue story management keeps promising.
7h agoInvesting.com MarketsBEARISH 38Earnings
SAP stock drops after ServiceNow, Fortinet results weigh
SAP stock drops after ServiceNow, Fortinet results weigh
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More on NOW: full news and sentiment history. Sentiment scores are AI-derived research signals, not financial advice.
Earlier NOW move explainers: 2026-10-29 · 2026-09-08 · 2026-09-03 · 2026-08-31 · 2026-08-28 · 2026-08-27