New York, Jan 9, 2026, 18:45 EST — After-hours
- ServiceNow shares fell about 3% on Friday, bucking a broader market rise
- KeyBanc reiterated an Underweight rating and kept a $155 price target
- The company is set to report quarterly results on Jan. 28 after the close
ServiceNow Inc (NYSE: NOW) shares fell about 3% on Friday to $141.80 and last traded at that level in after-hours dealing. The stock touched $147.20 at the high and $141.48 at the low.
The selling comes with the next earnings print close enough to shape positioning. ServiceNow said it will release fourth-quarter and full-year 2025 results after the U.S. market close on Jan. 28, followed by a conference call and webcast. 1
KeyBanc kept pressure on the name going into the weekend. The firm reiterated an Underweight rating — broker shorthand for expecting the stock to lag — and left its price target at $155, according to a note cited by Investing.com. 2
The stock’s drop stood out against a strong tape. The S&P 500, Dow and Nasdaq closed at record highs after data showed December payrolls rose by 50,000, short of expectations in a Reuters poll, while the unemployment rate eased to 4.4%, Reuters reported. “Payrolls were a little bit light relative to consensus, but still fairly strong numbers,” Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder, said. 3
ServiceNow also lagged several large-cap peers on the day. Salesforce dipped 0.23% while Oracle rose 4.95% and Synopsys gained 2.08%, and ServiceNow volume ran about 11.7 million shares versus a 50-day average around 8.8 million, MarketWatch data showed. 4
At $141.80, the shares are sitting not far above a 52-week low of $135.73, with the 52-week range topping out at $239.62, according to MarketBeat. 5
In the background, investors are still digesting ServiceNow’s agreed $7.75 billion all-cash deal for cybersecurity firm Armis. ServiceNow said it expects to fund the purchase with cash on hand and debt and close it in the second half of 2026. “ServiceNow is building the security platform of tomorrow,” said Amit Zavery, the company’s president, chief operating officer and chief product officer. 6
But the near-term risk cuts both ways. A cautious 2026 outlook, a shift higher in rate expectations, or signs that customers are trimming spend can hit premium-priced software names quickly, and ServiceNow is trading close enough to its lows that technical pressure can feed on itself.
Next up is Jan. 28, when ServiceNow reports results after the close and updates investors on demand, margins and the acquisition pipeline — including any fresh detail on Armis’ timeline.
