ServiceNow财报前遭减持与看空评级压制，盘中跌约3.8%

S&P, Nasdaq open lower as investors eye tech earnings for AI cues, led by Alphabet
Investing.com -- ServiceNow stock fell 3.8% in morning trading as the enterprise software company heads into its Q2 2026 earnings release scheduled for after today’s market close, with investors choosing to reduce exposure rather than hold through a report that options markets had flagged as potentially moving shares by roughly 11% in either direction. The pre-earnings anxiety is rooted in a painful recent track record: the stock dropped sharply following each of its last two quarterly reports, even in cases where revenue came in ahead of consensus estimates.
Bearish analyst actions published in the days immediately before today’s session are adding direct pressure. KeyBanc reiterated its Underweight rating and $85 price target, raising concerns that customers pulled forward contract renewals by as many as nine months to lock in pricing before ServiceNow’s new AI-native packaging tiers — Foundation, Advanced, and Prime — took effect on July 1, a dynamic that could artificially inflate near-term bookings while masking underlying demand. CLSA initiated coverage on July 21 with an Underperform rating and a $72 price target, with analyst Bhavtosh Vajpayee arguing that the stock’s valuation already prices in an optimistic AI platform outcome, leaving limited upside and meaningful downside if execution disappoints. Over the past 90 days, 38 analysts have cut their EPS estimates for the company while none have raised them.
The broader market backdrop offers little support today. The Nasdaq Composite is down 0.4% and the S&P 500 is essentially flat at -0.1%, as investors across the technology sector adopt a cautious posture ahead of a dense week of earnings from major tech names. Software peers are similarly under pressure, with the sector broadly underperforming the Dow Jones, which is modestly positive at +0.3%.
Taken together, the combination of pre-earnings de-risking, a divided analyst community with high-profile bearish initiations, a troubling history of post-earnings volatility, and a soft tape for technology stocks has pushed ServiceNow shares to trade near their session low of $97.74 — still well above the 52-week low of $81.24, but a far cry from the 52-week high of $210.20 that underscores just how much ground the stock has surrendered over the past year.
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