ServiceNow stock jumps as Wall Street resets targets ahead of Jan. 28 earningsServiceNowServiceNow stock jumps as Wall Street resets targets ahead of Jan. 28 earnings
23 January 2026
1 min read

ServiceNow stock jumps as Wall Street resets targets ahead of Jan. 28 earningsServiceNowServiceNow stock jumps as Wall Street resets targets ahead of Jan. 28 earnings

New York, January 23, 2026, 11:17 ET — Regular session

  • ServiceNow shares gained about 3% in late-morning trading, bouncing back after Thursday’s rally snapped a losing streak
  • Cantor Fitzgerald and Jefferies cut their price targets but kept their positive ratings intact
  • Next week’s earnings and guidance will be in focus as investors search for clues on demand and AI-driven spending

ServiceNow shares gained about 3.4% on Friday, pushing against the broader cautious tone in U.S. markets ahead of earnings season. The stock closed up 4.32 points at $132.88, having fluctuated between $128.29 and $132.91 during the session.

This is crucial as ServiceNow nears its earnings report, its stock still shaky after a rough stretch. Investors are watching closely to see if software valuations can hold up amid a slew of target cuts sweeping through the sector.

Intel’s weak forecast rattled markets, sending shares lower as investors focused on the Federal Reserve and a busy earnings slate. Peter Cardillo, chief market economist at Spartan Capital Securities, said, “Guidance now is more critical than ever.” 1

Cantor Fitzgerald lowered its price target for ServiceNow to $200 from $240 on Friday but kept an “Overweight” rating. The downgrade reflects what it calls “multiple compression,” as investors are valuing software companies at lower sales multiples. ServiceNow’s stock has fallen roughly 16% so far this year, while the S&P 500 has managed a modest 1% rise. 2

Jefferies’ Samad Samana cut his price target to $175 from $230 but held on to a Buy rating, according to GuruFocus. Citi and Mizuho have also scaled back their targets recently, the site reports. 3

ServiceNow jumped 2.6% on Thursday to finish at $128.56, snapping a six-day losing streak. The gain, however, lagged behind several enterprise-software peers that outperformed it during the session, per MarketWatch data. Trading volume also topped the stock’s recent averages. 4

ServiceNow is ramping up its AI efforts with new partnerships to keep its product story fresh. On Jan. 20, ServiceNow and OpenAI announced they’re expanding their strategic collaboration to integrate OpenAI models directly into ServiceNow workflows. Amit Zavery from ServiceNow called it “building the future of AI experiences,” while OpenAI COO Brad Lightcap highlighted their aim to bring agentic AI to enterprise workspaces that’s both “secure” and “scalable.” 5

Investors are turning away from catchy slogans and zeroing in on the numbers. They’re digging into subscription growth, evaluating management’s renewal forecasts, and trying to figure out whether AI features are genuinely boosting demand or just being bundled into existing deals.

Richly valued software stocks carry a familiar risk: a cautious forecast might blow up fast. If customers hold off on approvals or stretch out renewals, a short-lived rally can quickly flip into another slide.

ServiceNow plans to report its fourth-quarter and full-year earnings after markets close on Wednesday, January 28, with a conference call scheduled later that day. 6

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