ServiceNow (NOW) Stock Today: Price, Stock Split, AI Growth and What to Watch on November 28, 2025

ServiceNow, Inc. (NYSE: NOW) closed Friday, November 28, 2025 at $812.41, up about 1.2% on the day after a volatile session that briefly pushed the share price back down toward recent lows. ^[1]

Despite today’s bounce, the enterprise software and AI platform leader is still well below its 52‑week high of $1,198.09 and deeply underperforming the Nasdaq in 2025, with several data providers estimating the stock is down around 24% year-to-date while the tech-heavy index is up more than 20%. ^[2]

At the same time, ServiceNow just delivered strong Q3 2025 results, announced a five-for-one stock split, and continues to lean aggressively into AI and security-focused deals. ^[3]

Below is a detailed look at how the stock traded today, what’s driving sentiment, and the key catalysts investors are watching.

1. ServiceNow (NOW) stock price today: rebound after intraday weakness

According to real-time and end-of-day data, ServiceNow shares: ^[4]

Closed: $812.41
Change: +$9.69 (+1.21%) vs. Thursday’s close at $802.72
Day’s range: roughly $805–$814
Market cap: about $168–169 billion
Volume: ~0.9–2.0 million shares traded, depending on source cut‑off time

Earlier in the session, one intraday snapshot showed the stock at $802.72, down about 2.7%, reflecting continued volatility after weeks of selling pressure. ^[5] The late‑day recovery into the low $800s suggests bargain hunters and short‑term traders stepped in near recent support levels.

On a longer view:

An IndexBox analysis notes that NOW is trading roughly 33% below its 52‑week high, has gained only about 5% over the last 12 months, and is down 24.3% year-to-date, while the Nasdaq Composite is up 20.2%. ^[6]

In other words: today’s gain doesn’t change the bigger story — ServiceNow is still working through a meaningful drawdown in a year when many AI‑related names have soared.

2. Fundamentals remain strong: Q3 2025 earnings and AI momentum

Underneath the share-price volatility, ServiceNow’s business continues to grow at a robust clip.

In its Q3 2025 results (reported October 29), the company: ^[7]

Reported total revenue of about $3.41 billion, up roughly 22% year‑over‑year
Delivered subscription revenue of about $3.30 billion, growing around 21.5% YoY
Posted adjusted EPS of roughly $4.82, about 25–30% higher than a year ago and ahead of analyst expectations in the low‑$4 range
Exceeded guidance across key growth and profitability metrics
Raised full‑year 2025 subscription revenue, operating margin and free cash flow guidance

The company’s remaining performance obligations (RPO) — essentially contracted future revenue — highlight strong visibility:

Current RPO (cRPO): about $11.35 billion, up ~21% YoY
Total RPO: roughly $24.3 billion, up ~24% YoY ^[8]

For the trailing 12 months, Macrotrends estimates that ServiceNow has generated around $12.7 billion in revenue, up about 21% from the prior year. ^[9]

ServiceNow positions itself as “the AI platform for business transformation,” using its Now Platform to automate workflows across IT, HR, customer service, security and more. ^[10] Recent highlights include:

AI Experience, a new context-aware interface that brings together people, data and workflows in a single AI‑driven entry point ^[11]
Strong traction in products like Now Assist, AI Control Tower, Workflow Data Fabric and RaptorDB, all cited as ahead of plan in Q3 commentary ^[12]
A flurry of partnerships and integrations with Microsoft, Figma, NTT Data and others, aimed at deepening AI‑based automation across large enterprises ^[13]

These fundamentals have led some research outlets and hedge‑fund letters to emphasize that ServiceNow’s core business hasn’t weakened, even as the stock has come under pressure. One investor letter cited by Insider Monkey argued that AI is enhancing ServiceNow’s opportunity rather than threatening it, pointing to strong subscription and AI product growth. ^[14]

3. Five‑for‑one stock split: key details and timing

One of the biggest headlines around ServiceNow this quarter is its planned five‑for‑one stock split.

From the company’s official Q3 press release and follow‑up coverage: ^[15]

The Board of Directors authorized a 5‑for‑1 split of the company’s common stock.
The split is subject to shareholder approval at a special meeting on December 5, 2025.
Management has indicated that, if approved, the split is expected to be implemented in early December, after which trading would begin on a split‑adjusted basis.
At the time of the announcement, ServiceNow traded near $900 per share, and commentary suggested the split would bring the price closer to the high‑$100s per share, potentially making it more accessible to retail investors.

MarketWatch noted that the split comes at a time when stock splits are less common than in 2024, and CEO Bill McDermott framed the move as partly about making shares more approachable for employees and retail investors who are drawn to the company’s AI story. ^[16]

It’s important to remember: a stock split does not change the underlying value of the company — it just increases the number of shares while lowering the price per share proportionally. However, splits can boost trading liquidity and sometimes spark short‑term sentiment shifts.

4. Valuation: expensive, cheap, or both?

ServiceNow’s valuation is one of the main reasons analysts and investors are divided today.

Trailing and forward multiples

According to StockAnalysis, at today’s close: ^[17]

TTM EPS: about $8.27
Trailing P/E: roughly 98x
Forward P/E: around 42x, based on consensus forecasts

Finbox data, which looks at a broader forecast horizon, suggests ServiceNow’s forward P/E could average in the mid‑30s over the next five years. ^[18]

Other sources put the trailing P/E slightly lower, around the mid‑80s to mid‑90s range, depending on the exact earnings definition, but all agree the stock trades at a premium to most software peers. ^[19]

Fundamental models send mixed signals

A detailed valuation breakdown from Simply Wall St captures the current debate nicely: ^[20]

Their discounted cash flow (DCF) model estimates a fair value around $936 per share, implying that NOW might be undervalued by roughly mid‑teens percent versus recent prices.
However, their P/E‑based “Fair Ratio” suggests a reasonable multiple closer to ~50x earnings. With ServiceNow currently around 96x, they flag the stock as overvalued on this metric relative to its fundamentals and peer group.
They also highlight that the stock has returned about 94% over the last three years, but is down roughly 12% over the past month and about 24% year‑to‑date, underscoring how sentiment has swung sharply in 2025.

In short:

If you prioritize cash‑flow growth and long‑term AI upside, you may see NOW as attractively priced after the pullback. If you focus on near‑term earnings multiples, it still looks expensive.

5. Why has the stock lagged? Rotation, sentiment and new research calls

Several factors have been cited for ServiceNow’s underperformance this year:

Rotation out of “legacy” software into high‑beta AI and chips
An investor letter summarized by Insider Monkey notes that some large growth funds have seen money flow into semiconductor and “AI‑native” names at the expense of established enterprise software platforms like ServiceNow, even though ServiceNow itself is a meaningful AI beneficiary. ^[21]
Rich valuation and a “great company, fair stock” narrative
Macquarie initiated coverage of NOW with a Neutral rating and a $860 price target earlier this week, calling ServiceNow a high‑quality leader in SaaS and workflow automation but arguing that the stock trades at a premium to peers with no obvious near‑term catalyst to re‑rate sentiment. ^[22]
Technical pressure and persistent drawdown
Technical commentary from IndexBox and other outlets notes that NOW has been trading below its 50‑day and 200‑day moving averages since late July, reinforcing a bearish technical setup even as fundamentals have stayed strong. ^[23] A separate short‑term analysis from Economies.com flagged “more negative signs” for today’s session, reflecting the early intraday weakness before the late bounce. ^[24]
Mixed market environment for software
Broader coverage this month has emphasized that many software stocks have not fully participated in the AI rally that lifted chipmakers and select platform giants, leaving valuation “hangovers” and sentiment overhangs across the sector — ServiceNow included. ^[25]

All of this helps explain why today’s +1% move feels more like a small relief rally within a downtrend than a decisive change in the story.

6. Acquisition rumors and AI M&A: Veza and beyond

Adding another layer to today’s trading narrative are reports that ServiceNow is in advanced talks to acquire identity security firm Veza for over $1 billion. ^[26]

Recent coverage notes that:

The Veza deal would expand ServiceNow’s capabilities in identity and access security, an increasingly important piece of AI‑driven workflow automation.
It follows other AI‑related moves, such as the acquisition of Moveworks for roughly $2.85 billion, which bolsters conversational AI and agentic automation on the platform. ^[27]

Smartkarma’s market update today explicitly tied “multiple headwinds” and the Veza acquisition chatter to the stock’s intraday weakness, while also pointing out that analysts on the platform remain broadly bullish on ServiceNow’s AI‑driven growth trajectory. ^[28]

For investors, the M&A angle is a double‑edged sword:

Positive: strengthens the long‑term AI and security moat; supports the narrative of ServiceNow as a core AI platform for enterprises.
Negative: raises questions about integration risk, potential margin impact, and whether ServiceNow will keep paying up for strategic deals at a time when the stock is already richly valued.

7. Insider and shareholder sales: today’s Form 144 filings in context

Today also brought several small Form 144 filings related to planned share sales:

A shareholder filed to sell 265 shares, acquired as restricted stock that vested in May 2025, with an estimated value of about $215,000 at the time of filing. The holder explicitly represented they were not aware of any undisclosed material adverse information about ServiceNow. ^[29]
Another shareholder filed a notice to sell 600 shares, originally granted as restricted stock units in 2017, worth around $482,000 at current prices. ^[30]
Separately, President and CFO Gina Mastantuono filed a Form 144 to sell 417 shares under a pre‑arranged Rule 10b5‑1 trading plan, again a routine mechanism often used by executives to diversify or manage compensation. ^[31]

These numbers are tiny compared with roughly 208 million shares outstanding, and all filings include standard language that the sellers do not know of undisclosed negative information. ^[32]

In other words, today’s insider‑related headlines look more like normal, scheduled sales than a red flag about the business.

8. How Wall Street and quant models see NOW after today’s close

Different corners of the market are reading ServiceNow in different ways:

Street consensus: Aggregators like StockAnalysis report a “Strong Buy” consensus from around 30–31 analysts, with an average 12‑month price target near $1,120, implying roughly 38% upside from today’s close. ^[33]
Macquarie: Recently initiated at Neutral with an $860 target, reiterating that the company is an execution leader but that the stock already discounts much of the good news. ^[34]
Smartkarma Smart Score: A factor-based scorecard gives ServiceNow high marks for Growth, Resilience and Momentum, but low for Value and Dividend, resulting in an overall score around 3.2 out of 5 and reinforcing the “great growth story, expensive stock” message. ^[35]
Simply Wall St: Their narrative-driven valuation framework shows DCF-based upside but warns that the current P/E multiple is far above both peers and their own fair multiple estimate. ^[36]

For now, the consensus story remains bullish on the business, cautious on the valuation — exactly what today’s trading seems to reflect.

9. Key dates and catalysts to watch after November 28, 2025

Investors tracking ServiceNow after today’s session may want to mark:

December 5, 2025 – Special shareholder meeting
Vote on the five‑for‑one stock split. Approval is widely expected, but the exact timing of the split’s effective date and record date will matter for short‑term trading dynamics. ^[37]
Early December 2025 – Expected implementation of stock split (if approved)
Once split‑adjusted trading begins, NOW’s share price will be mechanically lower, which could influence options activity, retail interest and index fund mechanics. ^[38]
Potential Veza acquisition announcement
Any confirmation, pricing details or regulatory commentary on the rumored Veza deal would affect how investors view ServiceNow’s AI and security roadmap — and how much capital it’s willing to deploy to stay ahead. ^[39]
Early February 2026 – Q4 2025 earnings
Current estimates peg the next earnings release around February 4, 2026, with consensus looking for continued double‑digit growth in subscription revenue and EPS. ^[40]
Ongoing AI and partnership newsflow
New integrations with partners like Microsoft, NTT Data, Figma and others are likely to keep ServiceNow in AI‑related headlines, especially as enterprises move from experimentation to broad deployment. ^[41]

10. What today’s move could mean for different types of investors

Nothing in this article is financial advice, but here’s how today’s setup may look from different angles:

Short‑term traders
Volatility around the stock split vote, M&A rumors and technicals below major moving averages creates opportunities for active traders — but also increases downside risk if macro data or software sentiment worsens. ^[42]
Long‑term growth investors
If you believe ServiceNow will remain a central AI workflow platform for large enterprises, the combination of 20%‑plus revenue growth, expanding RPO and ongoing AI innovation may outweigh near‑term valuation concerns, especially after a ~24% YTD drawdown. ^[43]
Valuation‑sensitive or risk‑averse investors
A near‑triple‑digit trailing P/E and a premium to the software sector mean there’s little margin of error if growth slows or AI monetization disappoints. Recent neutral ratings and factor scores emphasize that NOW is not a classic “value stock”, even after the pullback. ^[44]

Whichever camp you fall into, checking the latest price, filings and company guidance before making decisions is essential, as today’s numbers and expectations can change quickly.

Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice, a recommendation to buy or sell any security, or an offer to provide investment advisory services. Always do your own research and consider consulting a licensed financial professional before making investment decisions.

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