Why ServiceNow Tumbled by Almost 8% on Thursday
Few investors were willing to buy software stocks on Thursday, as the rout in such titles extended into that trading session. That, plus a severe analyst price target cut, put the hurt on 's (NYSE: NOW) shares, pushing them down by nearly 8% on the day.
With several famous tech companies unveiling plans to boost their spending on next-generation artificial intelligence (AI) solutions, software developers are hardly the flavor of the moment on the market. ServiceNow's stock in trade is enterprise software, and these days the mere association with software is enough for investors to shun a stock -- no matter how enthusiastically it's embraced AI, as in the case of ServiceNow.
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Source Fool.com
ServiceNow Inc. Stock
€100.50
1.290%
With 120 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 30.35% compared to the current price of 100.5 € for ServiceNow Inc..
