ServiceNow stock drops again — what to watch before its January 28 earnings
ServiceNow shares fell 2.6% to $131.17 Thursday, extending a sector-wide slump. Stifel cited a $15 million cut in a U.S. Treasury contract as a possible drag on 2026 seat-based revenue. Investors are watching for signs of declining per-user licenses ahead of January 28 results. The stock has dropped about 37% over the past year.