On August 31, ServiceNow rose 3.05% in regular trading, trading at $149.35/share, with turnover of $2.635 billion. The stock extended its recent momentum, having surged over 12% the prior week amid a broad AI application software rally.

The move was fueled by continued strength across the AI software sector after Salesforce posted blowout Q2 results — revenue of $11.35 billion and adjusted EPS of $5.90, both significantly beating expectations — which helped dismantle bearish narratives around the SaaS industry. The earnings catalyst lifted peers including ServiceNow, CrowdStrike, and Veeva Systems sharply. Meanwhile, ServiceNow recently announced an expanded partnership with Tech Mahindra to deliver production-ready enterprise AI at scale, reinforcing market confidence in the company's AI platform monetization capabilities.

On the analyst front, multiple investment banks raised their price targets on ServiceNow, including Wells Fargo to $175, BofA Securities to $150, Truist Securities to $300, TD Cowen to $280, and Loop Capital to $250, with a consensus buy rating and a mean target of $141.21.

(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.)