Stock Track | ServiceNow Plummets 5.02% Intraday After UBS Downgrade on AI Disruption Concerns

Stock Track04-10

ServiceNow's stock plummeted 5.02% during intraday trading on Friday, following a significant analyst downgrade that raised concerns about the company's vulnerability to artificial intelligence disruption.

The sharp decline was triggered by UBS downgrading ServiceNow from "buy" to "neutral" and slashing its price target to $100 from $170. The brokerage firm expressed concerns that ServiceNow's workflow automation layer could be vulnerable as enterprises increasingly harness AI models to automate tasks internally, potentially reducing demand for ServiceNow's premium offerings.

UBS also flagged a challenging near-term spending environment for non-AI software, noting that enterprises are diverting budgets toward AI initiatives. This shift could lead to weaker-than-expected performance for ServiceNow in upcoming quarters, according to the analyst report.

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