ServiceNow Shares Drop 1.58% with $1.07B Volume Ranking 93rd Despite AI Momentum

ServiceNow (NOW) fell 1.58% on July 30, with a trading volume of $1.07 billion, ranking 93rd among stocks in terms of activity. The decline occurred despite strong second-quarter results and upward guidance revisions from the company.

Cantor Fitzgerald analyst Thomas Blakey reiterated an “Overweight” rating for ServiceNow, maintaining a $1,200 price target. The firm highlighted the company’s momentum in AI-driven offerings, including a 50% quarter-over-quarter growth in its Pro Plus business and Control Tower’s rapid adoption. A $20 million annual contract value (ACV) Now Assist deal further underscored the stock’s strategic positioning in the AI sector.

Analysts noted ServiceNow’s ability to secure large deals, with ACV exceeding $20 million growing 30% year-over-year. The company’s expansion into adjacent markets like CRM and data solutions also showed promise, reinforcing its competitive edge in leveraging AI across user interface, agent automation, and data infrastructure.

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