ServiceNow ( (NOW) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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ServiceNow shares came under pressure after UBS raised doubts about the company’s artificial intelligence strategy and warned that customer budgets could be tightening. The broker cut its rating on the stock to Neutral and reduced its price target to $100, signaling a less bullish view from Wall Street.
The downgrade came even as ServiceNow announced that its entire product portfolio now incorporates AI features, aiming to boost automation and efficiency for clients. The company also introduced new Context Engine and Build Agent capabilities to better connect data, governance and autonomous workflows across its platform.
More about ServiceNow
YTD Price Performance: -41.37%
Average Trading Volume: 19,876,561
Technical Sentiment Signal: Sell
Current Market Cap: $93.94B
For further insights into NOW stock on TipRanks’ Stock Analysis page.
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