NYSE
NOW
19 stories
$155B Market cap · 2026-10-28
Interesting but not surprising to see the lack of follow through on software names today in the wake of $NOW numbers and 26% decline (+ ftnt). I guess we can expect more tape bombs in this sector until it rerates. Many stocks that are more exposed to ai disruption with higher multiples, lower growth and have rallied more than Servicenow did into the print. And several are barely off, some actually positive on the day..
ServiceNow’s Q3 revenue rose 20.5% to $4.11 billion, while non-GAAP EPS missed consensus and fourth-quarter cRPO growth guidance slowed to…
@JerryCap $NOW ceo on CNBC every 90 days pumping... It's night and day from Miller and $CSU just quietly grinding behind the scenes, listening to customers and sharing best practices.
Factor and sector rotations off of day to day and often conflicting data points have been a hallmark of the 2026 market. Not sure if its algos or just heavy retail participation or both. But I would say this: stop reacting to the daily data points - especially during earnings. It's stupid and a recipe for getting chopped into oblivion. While earnings reports are useful for directional trends on sectors, every company is different. Obviously. And different things impact quarters. To wit - its Thursday. Sunday night: AI trade over. Monday after Anthropic S1 out: Oh there's a healthcare TAM here and inherent operating leverage on compute, buy AI! Tuesday: AI stable, sell $SPOT! Weds: Send AI Weds PM: $GOOGL sucks, puke it, its over. Buy $META (why? idk). $NOW sucks puke it. Capex peak in sight (in line with consensus) puke AI. $MSFT good, buy it. Thurs: AI over, software over buy $SPOT. $MSFT good but its AI and software, sell it. Try and have an investment view anchored in what you believe to be confirming data points you expect to see in coming weeks, months, years. Hedge tactically as the data points inevitably aren't linear. Barbell core investments with tactical trades to hedge and take advantage of the rotational chop. Such trades are best in highly liquid securities. But if you trade like a bipolar lunatic - much like the market has traded - you will not do well.
$NOW $FTNT $GOOG $CTSH All abysmal. The factors are going to be really confused today
$now bill is always selling and some people on here seem confused why the stock is down when they look at the numbers he directs you to. Wash away all of his puffery and the underlying business deteriorated - gross profit came in at 10%+ yoy (which I believe is the lowest ever) for the quarter. You can call anything revenue but it's ultimately about the gross profit dollars you bring in + the efficiency of your expense management, which if you look saw increases across the board with profit materially weakening. You can argue intangibles on the COGS but then you need to adjust the light crpo further to exclude all the inorganic revenue helping out in there (which the co did not strip out).....the street is not fooled, these were not great numbers. And swapping revenue to juice AI in a press release while total sales stays on trend is not going to work anymore, as one analyst put it best to Bill "I wanted to just zoom out a little bit and just talk about the momentum you're seeing on the AI ACV side. Gina as you noted, you've raised the guidance twice now to $1.7 billion in revenue. At the same time, if we look at just the broad story of cRPO, we could call it stable, maybe on an organic basis, modestly decelerating, but sort of generally stable. So my high-level question, Bill, is just when do you think the AI momentum will start to translate to overall top line acceleration, cRPO acceleration?" There are very different expectations when a stock doubles in a quarter in-between reporting results.....
@KrisPatel99 I didn't expect it to be off 19% but the way $NOW runs their calls seems so desperately promotional to me.
whoops $NOW $FTNT,........ guess that run up in software names past few weeks was fundamentally driven huh? Flows mean nothing in this market anymore, it's liquidity AI on or off. Do your own work if a narrative is actually working or not and take a timeline beyond 3 days
@wealthyfranklin you can buy csu at the same growth rate for half the multiple of $NOW when factoring in after tax SBC.
ServiceNow is shifting from seat-based subscriptions to usage-based AI “Assists,” expanding revenue potential across its enterprise…
Raul Shah 11 clicks
SaaS companies including Salesforce, ServiceNow, CrowdStrike, Synopsys and Veeva are ranked by agentic AI progress, from pilots to…
ServiceNow expects AI annual contract value to reach $1.5 billion by year-end, with assist-pack consumption pricing supporting growth…
Jetstream Research 1 clickAnyone underwriting software credit should have a look at this When software buyers adopt frontier models, incumbent vendors see lower spend 43% of the time and flat spend 41%. Only 17% churn... This report (Qualitate) suggests FLAT spending is the stage BEFORE displacement. Buyers pause first w/o ripping out systems that are embedded in a company's ops. Look at $NOW...the AI-related pressure is due to its customers holding spending flat vs. leaving. If this is the case across levered software credit, we likely just grind lower across multiple A&Es w/o a clear hard default in the near-term
ServiceNow expects AI to rise from 9.5% to 30% of revenue by 2030, supporting $30–32 billion in subscription revenue and margins above 80%.
Louis Gerard 2 clicksIt takes courage to go against the current looking for opportunities that the market will not reward in the short-term. Times of turmoil is when we pay special attention to insiders and they led us to energy stock in mid-2020, regional banks in H1 2023, biotech companies in early 2025 and more recently SaaS stocks. While I don't have a position in $NOW, we did start positions in $CRM, $NAVN (partially exited) and more. Here is some of what I wrote about that decision to double down on SaaS in our July 2026 newsletter:
ServiceNow targets $30 billion in FY2030 revenue and a Rule of 60+ as it expands premium agentic AI offerings and consumption-based pricing.
Sold my $BILL on this 50%+ run off the lows, and continue to actively trade around core $HUBS and $WDAY positions by regularly writing calls or shorting puts (and sometimes boxing my longs). The volatility has been insane. Sold $ESTC for now. Also, I’m now short a small amount of $ADBE, $NOW, $TEAM, $CXM and $YEXT into July’s de-grossing/de-leveraging squeeze.
ServiceNow, SAP and Veeva are framed as AI-resistant SaaS bargains after a sector selloff, with ServiceNow positioned to gain from AI-agent…
The AI disruptions no one seems to be talking about, ytd stock performances $TTD -54% $IT -53% $HUBS -35% $ACN -32% $TEAM -31% $CRM -28% $ADBE -23% $NOW -18% $WDAY -14%
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