ServiceNow (NOW) Stock Plunges on $7B Armis Deal Talk and KeyBanc Downgrade — News, Forecasts, and What Investors Are Watching on Dec. 15, 2025
ServiceNow, Inc. (NYSE: NOW) is in the spotlight on December 15, 2025, after a sharp selloff that pushed the enterprise software leader to one of its steepest declines in months. The trigger: reports that ServiceNow is in advanced talks to buy IoT/OT cybersecurity firm Armis in a deal that could reach $7 billion, alongside a notable KeyBanc downgrade that amplified an already jittery debate about how AI could reshape (and potentially disrupt) traditional SaaS economics. Reuters+2Barron’s+2 Below is a detailed, publication-ready breakdown of today’s biggest headlines, the most important analyst takes, and the most widely cited forecasts for ServiceNow stock