Movement Alert|ServiceNow Rises 3.01% in Regular Trading, AI Application Software Rally Momentum Continues

Market Focus
Aug 28

On August 28, ServiceNow rose 3.01% in regular trading, trading at 142.59 USD/share, with turnover of 8.87 billion USD.

The gain extends momentum from the prior session's broad AI application software rally, during which ServiceNow surged over 10% alongside Salesforce and Veeva Systems, which each gained more than 20%. The sector-wide move reflected renewed investor enthusiasm for AI-driven enterprise software names. Underpinning the positive sentiment, Bank of America recently raised its price target on ServiceNow from 130 to 150 USD, while Wells Fargo lifted its target to 175 USD, both maintaining bullish ratings. Analysts polled by FactSet assign a consensus buy rating with a mean target of 141.21 USD, a level now exceeded by the current price. ServiceNow's AI annualized contract value has surpassed 1 billion USD, and its Q2 constant-currency subscription revenue growth of 23% beat expectations.

Within the Systems Software sector, performance diverged sharply on the session: Microsoft rose 1.19%, Oracle edged up 0.02%, while CrowdStrike fell 7.07%, Palo Alto Networks declined 6.49%, and NEBIUS dropped 3.65%.

(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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