ServiceNow Stock Slides as UBS Warns AI Threat Is Bigger Than First Thought
UBS downgraded ServiceNow to neutral from buy and cut its price target to $100 from $170, citing AI disruption risk and weaker demand for non-AI software. ServiceNow shares traded at $83.00 before the bell Monday, down 7.6% from the previous close and 44% lower year-to-date. The company has added AI features across all products. Bernstein reiterated an Outperform rating.