On July 24, ServiceNow rose 4.28% in regular trading, trading at $96.345/share, with turnover of $224 million. The stock continued its post-earnings momentum following its Q2 results released on July 22 after market close.

ServiceNow reported Q2 revenue of $3.987 billion, exceeding the consensus estimate of $3.928 billion, while adjusted EPS of $0.90 beat expectations of $0.85 by approximately 6%. Driven by sustained AI-powered software demand, the company raised its full-year subscription revenue guidance to $15.76 billion to $15.78 billion. Stifel analysts noted that ServiceNow is positioned to separate itself from traditional software peers facing AI disruption risks, though meaningful valuation re-rating may require several more strong quarters.

Additionally, the company announced a multi-year strategic partnership with TeamViewer to integrate remote connectivity solutions into the ServiceNow AI platform, and expanded its AI platform agreement with Experian. Multiple analysts raised price targets, with Evercore ISI lifting to $160, Jefferies to $140, and Cantor Fitzgerald to $141, all maintaining bullish ratings.

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