Why ServiceNow Plunged Today
Shares of back office software-as-a-service company (NYSE: NOW) plunged on Monday, falling 11.9% as of 1:18 p.m. EDT.
ServiceNow had two rather significant pieces of news today: One, it was reported ServiceNow is in talks to make what appears to be an expensive acquisition. Two, an analyst downgraded shares, predicting that fears over the potential disruption from generative artificial intelligence would cap ServiceNow's valuation multiple in 2026.
On Monday, Bloomberg News reported that ServiceNow is in advanced talks to acquire Armis, a private U.S.-Israeli cybersecurity company that protects internet-connected devices from advanced threats. Bloomberg reported the company could be valued at roughly $7 billion.
Source Fool.com
ServiceNow Inc. Stock
€96.48
1.610%
With 119 Buy predictions and 4 Sell predictions ServiceNow Inc. is one of the favorites of our community.
As a result the target price of 131 € shows a positive potential of 35.78% compared to the current price of 96.48 € for ServiceNow Inc..
