Movement Alert｜ServiceNow Intraday Rise 3.01% in Regular Trading, Software Sentiment Stabilizes After Post-Earnings Selloff

Market Focus11-02 23:11

On November 2, ServiceNow rose 3.01% in Regular Trading, trading at $108.03, with turnover of $497 million.

The move appears tied to a broader recovery in software sentiment, as a higher price target on Microsoft helped support the systems software group after ServiceNow’s sharp post-earnings decline.

Recent background remains cautious. ServiceNow reported third-quarter adjusted EPS of $1.00, below the $1.02 consensus, while revenue of $4.11 billion modestly exceeded expectations. More importantly, fourth-quarter current remaining performance obligations growth guidance of 18.5% disappointed investors, prompting several target-price cuts, including BNP Paribas to $143 from $160. Options activity has also stayed defensive, with large put structures pointing to continued institutional caution even as the stock rebounds intraday.

(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.)

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