Movement Alert｜ServiceNow Falls 3.02% in Pre-Market Trading, Profit-Taking Continues as Analyst Cuts Target Price and Layoff Plans Emerge

Market Focus

Jul 31

On July 31, ServiceNow fell 3.02% in pre-market trading, trading at $106.84 per share, extending the prior session's decline of over 3%.

Multiple headwinds are weighing on the stock. Following a strong multi-day rally driven by better-than-expected Q2 results — adjusted EPS of $0.90 versus the $0.85 consensus, revenue of $3.987 billion up 24% year-over-year — the stock is now facing profit-taking pressure. Citic Securities recently lowered its target price from $140 to $126, adding to selling momentum. Additionally, reports indicate the company plans to lay off up to 1,000 employees as part of post-acquisition restructuring.

Notably, ServiceNow has significantly underperformed its Systems Software peers in recent sessions. On the prior trading day, Microsoft surged over 14% and NEBIUS gained over 18%, while ServiceNow declined, suggesting active fund rotation away from the stock despite the broader sector strength.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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