ServiceNow, Inc. (NYSE: NOW) ended the Christmas Eve session modestly lower, with trading capped by an early market close and investors still digesting two closely watched headlines: ServiceNow’s agreement to acquire cybersecurity firm Armis for $7.75 billion in cash and a regulatory filing that extends CEO Bill McDermott’s employment agreement into 2030. [1]
One important wrinkle for traders: U.S. stock markets are closed on Thursday, Dec. 25 (Christmas Day), so the “next open” for most investors is Friday, Dec. 26. [2]
Below is what moved NOW today, where the stock sits after the bell, and the key checkpoints to track before the next full session.
How ServiceNow stock traded after the bell today (Dec. 24, 2025)
ServiceNow shares were last indicated around $152.59 in post-close prints after the early close, down about 1.13% versus the prior session, with roughly 3.88 million shares traded. Intraday, NOW ranged roughly from $152.02 to $154.79.
Because Christmas Eve is a shortened session (NYSE closing at 1:00 p.m. ET) and liquidity typically thins sharply into the afternoon, after-hours moves can be choppy and less informative than usual—especially when the stock is already repricing a major corporate action announced earlier in the week. [3]
Market schedule check: tomorrow is closed, and that changes the setup
If you’re planning “tomorrow morning” trades, note the calendar reality:
- NYSE and Nasdaq were open for a shortened session on Dec. 24 (close at 1:00 p.m. ET). [4]
- Markets are closed on Dec. 25 for Christmas Day. [5]
- Regular trading resumes Friday, Dec. 26. [6]
That extra day of downtime can matter: it gives analysts, investors, and arbitrage desks more time to run numbers on the Armis deal and to publish fresh notes—often leading to rating/target updates hitting the tape into Friday’s open rather than Thursday premarket.
The headline still driving NOW: ServiceNow’s $7.75B all-cash Armis acquisition
What was announced
ServiceNow said it will acquire Armis in an all-cash deal valued at $7.75 billion, its largest acquisition to date, with closing expected in the second half of 2026. [7]
ServiceNow’s investor announcement frames the strategic aim as building a more unified “security exposure and operations” stack across IT, operational technology (OT), and medical devices, tying together real-time discovery and threat intelligence with workflow-driven remediation. [8]
Why Wall Street cares (and why the stock has stayed sensitive)
Even when investors like the strategic logic, mega-deals tend to raise the same near-term questions:
- Price discipline: Is ServiceNow paying a premium that takes years to earn back?
- Integration and execution: Can the company integrate a security platform without distracting from core workflow execution?
- Balance sheet and financing: ServiceNow has described funding via cash on hand and debt, which can affect flexibility depending on rates and future deal appetite. [9]
Today’s coverage across mainstream business outlets and cybersecurity trade press continued to emphasize that this is both a big AI-security bet and a test of ServiceNow’s ability to scale through acquisitions. [10]
Armis’ growth profile and the “AI security” narrative
Reports have pegged Armis’ scale at $340M+ in annual recurring revenue and 50%+ growth (figures cited in market coverage), which helps explain why ServiceNow sees it as a fast path to expanding its security footprint. [11]
Tech coverage also noted that Armis recently raised funding valuing the company around $6.1B before this acquisition agreement—an important context point for anyone modeling the premium ServiceNow is paying. [12]
Second major update in today’s news cycle: CEO Bill McDermott’s contract extension through 2030
Alongside the M&A story, ServiceNow disclosed (via reporting tied to a regulatory filing) an amendment that keeps CEO Bill McDermott with the company through at least Dec. 31, 2030, effective Jan. 1, 2026. [13]
Additional summaries of the filing indicate ServiceNow also updated executive severance terms for the CEO effective in 2026, which can matter to governance-focused investors (especially around change-of-control provisions). [14]
Why this matters for the stock: mega-acquisitions amplify “execution risk,” so the market often assigns value to clear leadership continuity during major integrations.
Today’s analyst/forecast watch: UBS trims its target (and the Street recalibrates around the deal)
One of the most notable “fresh” datapoints today: UBS adjusted its price target on ServiceNow to $200 from $230, per a note distributed via MT Newswires. [15]
The same note referenced a broader consensus backdrop—an average “buy” stance and a mean price target around $226.51 from analysts polled by FactSet (as reported in that MT Newswires item). [16]
How to interpret this before the next open (Dec. 26):
- Expect more price-target “math” revisions in the near term as analysts update models for Armis (deal timing, financing, and synergy assumptions).
- Watch whether notes focus on organic growth durability versus “acquisition-driven” expansion—this has been a recurring investor sensitivity in recent coverage. [17]
Technical and sentiment snapshot from today’s dashboards (useful, but secondary)
With the news largely known and the session shortened, many traders will lean on technical dashboards for context into Friday:
- Some forecast/technical aggregators flagged bearish technical sentiment as of late Dec. 24 readings. [18]
- The bigger-picture context remains that NOW is well below its 52‑week high (cited in market coverage), which can shape how quickly “deal relief rallies” fade if follow-on analyst notes stay cautious. [19]
Treat these signals as context, not catalysts. The next meaningful direction for NOW is more likely to come from deal-related modeling, new analyst notes, and any incremental disclosures.
What to know and watch before the next market open
Because the market is closed Thursday, this is effectively a “what to watch before Friday” checklist.
1) Deal mechanics and timeline (H2 2026 is a long runway)
This isn’t a quick close. Investors will watch for:
- Regulatory milestones
- Financing details
- Integration planning disclosures
- Any updates to expected timing in future filings or conference commentary [20]
2) Whether ServiceNow can sell the “platform logic” convincingly
The company’s strategic framing is about unifying security exposure and operations across the enterprise “attack surface.” The market response into Friday will reflect whether investors believe Armis makes ServiceNow’s platform stickier (and more valuable) or simply more complex. [21]
3) Follow-on analyst notes (targets, ratings, and “deal math”)
UBS’ target cut is one datapoint—but Friday’s open often reflects the next wave of notes, especially after a holiday pause. [22]
4) Leadership/governance narrative
McDermott’s extension reduces “CEO risk” during a large integration. But governance-oriented investors may parse severance and change-in-control language in the updated policies. [23]
5) Liquidity and positioning into year-end
With a shortened session and a holiday closure, positioning can get exaggerated—moves into Friday can be sharper than usual because desks return and rebalance exposure.
Bottom line for ServiceNow stock heading into the next session
After the bell on Dec. 24, ServiceNow stock sat near $152.6, still trading in the shadow of its biggest M&A announcement ever and a CEO-tenure extension that reinforces leadership continuity into 2030. [24]
The core question investors will carry into the next open (Friday, Dec. 26) is straightforward: Does Armis expand ServiceNow’s long-term AI-security opportunity enough to justify the price and integration risk? The next several analyst notes—plus any additional deal details that emerge—are likely to do more to move NOW than the thin, holiday-shaped after-hours tape.
References
1. investor.servicenow.com, 2. www.nasdaq.com, 3. www.nyse.com, 4. www.nyse.com, 5. www.nasdaq.com, 6. www.nasdaq.com, 7. investor.servicenow.com, 8. investor.servicenow.com, 9. www.marketwatch.com, 10. www.marketwatch.com, 11. www.marketwatch.com, 12. techcrunch.com, 13. www.rttnews.com, 14. www.stocktitan.net, 15. www.marketscreener.com, 16. www.marketscreener.com, 17. www.investors.com, 18. coincodex.com, 19. www.marketwatch.com, 20. investor.servicenow.com, 21. investor.servicenow.com, 22. www.marketscreener.com, 23. www.rttnews.com, 24. www.rttnews.com
