Overview
- Two major research firms cut their ServiceNow price targets while keeping positive ratings, signaling caution without a loss of faith ahead of results.
- Oppenheimer said lower software valuation multiples drove its cut and warned that upcoming numbers may not put AI disruption worries to rest.
- Investors will focus on subscription revenue and current remaining performance obligations, since weaker U.S. federal demand could pressure those measures.
- ServiceNow says every product now uses AI, including a new Context Engine that traces how agents make decisions and a Build Agent that lets developers create and ship tools inside the platform.
- The stock is down more than a third this year, and even bullish voices such as Jim Cramer expect solid results yet question whether good news will shift the mood.