On September 2, ServiceNow fell 3.06% in regular trading, trading at $138.75/share, with turnover of $427 million, extending the pullback that began after the stock surged over 12% last week.

The prior rally was fueled by Salesforce's strong fiscal Q2 results, with revenue of $11.35 billion and adjusted EPS of $5.90 significantly beating expectations, which lifted the broader AI application software sector. With substantial short-term gains accumulated, profit-taking pressure has continued to weigh on the stock. Additionally, Chief People and AI Empowerment Officer Jacqueline P. Canney sold 7,847 shares on August 28 at $138 per share, realizing approximately $1.08 million, further dampening market sentiment.

On the fundamental side, ServiceNow recently signed a strategic AI collaboration agreement with Aramco Digital and expanded its partnership with Tech Mahindra to advance enterprise-scale AI deployment. Multiple investment banks have raised their price targets, with Wells Fargo setting a $175 target and BofA Securities adjusting to $150, suggesting the medium-to-long-term growth thesis remains intact.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)