ServiceNow

NOW

Market cap $92.3B

SaaS stocks were trying to stage a modest rebound on Monday after a rough stretch, with some high‑profile names finally participating in what Jim Cramer called the "software empire" attempts to strike back.

KISSIMMEE, Fla.--(BUSINESS WIRE)--Qlik and ServiceNow partner to help enterprises bring trusted enterprise context and richer insight into the workflows and AI-driven processes.

Bitcoin's relative strength on Friday may offer a bullish clue for battered software shares — that is, if a past relationship still holds.

UBS reduced its price target on ServiceNow stock. ServiceNow projects growth on two important metrics in 2026, suggesting that investors shouldn't rush to click the sell button.

ServiceNow, Inc.  (NYSE: NOW) has been trending lower over the past year, and Friday, April 10, is no different. But the downtrend could end here.

The slide marks NOW's steepest weekly drop since 2016 and represents a sharp reversal for a stock that investors had treated as a high‑quality way to play digital transformation and enterprise AI.

UBS has lowered its rating on ServiceNow Inc (NYSE:NOW, XETRA:4S0) to Neutral from Buy, saying its earlier conviction that the company was best positioned among application software firms in the AI era has weakened amid emerging signs of budget pressure in non-AI software spending. The bank noted that while customers continue to view ServiceNow as a core “system of record” for IT assets, there is growing interest in using AI to build lighter workflow tools on top of existing systems.

Keirstead warned that the stock could face additional downside as companies shift more of their IT budgets toward AI‑related projects and away from traditional software categories, CNBC reported.

ServiceNow (NYSE: NOW) plunged 6% on April 10 after senior UBS analyst Karl Keirstead issued a bearish note on the Santa Clara-headquartered software giant. Citing a material shift in enterprise spending priorities, Keirstead downgraded NOW this morning to “neutral” and slashed his price target sharply to $100.

ServiceNow stock fell amid a downgrade from UBS on views that the emergence of AI coding tools poses a threat to the software maker.