ServiceNow stock slides as Oppenheimer trims target, with earnings two weeks out

New York, Jan 13, 2026, 19:28 EST — After-hours

ServiceNow shares were down about 3% after Tuesday’s close
Oppenheimer cut its price target to $200 from $230, kept “outperform”
Investors are looking to Jan. 28 results for the next clear catalyst

ServiceNow (NYSE:NOW) shares fell about 3% on Tuesday and were slightly lower in after-hours trading, after Oppenheimer lowered its price target on the enterprise software maker while keeping an “outperform” rating. marketscreener.com

The timing matters. ServiceNow is due to report fourth-quarter and full-year results on Jan. 28, with the numbers and outlook likely to set the tone for the next leg in the stock after a choppy start to 2026. ServiceNow Newsroom

Tuesday’s drift lower came as U.S. stocks ended modestly down, led by losses in financial shares, even after inflation data broadly kept rate-cut expectations in place. Reuters

Oppenheimer lowered its target to $200 from $230 in a note dated Tuesday, according to a published summary of the call. marketscreener.com

ServiceNow’s move was not isolated. Salesforce was down about 7% late Tuesday, while Workday fell about 4% and Adobe dropped roughly 5%, based on late-session prices.

ServiceNow’s stock is trading on a split-adjusted basis after shareholders approved a 5-for-1 stock split, which took effect for trading in December. ServiceNow Newsroom

For Jan. 28, investors will be watching subscription revenue and the company’s outlook, plus remaining performance obligations — a rough gauge of contracted work still to be recognized as revenue over time. ServiceNow Newsroom

They will also parse any comments on customer budgets. Big software deals can slip when finance chiefs get cautious, and guidance is where that usually shows up first.

But the setup cuts both ways. If ServiceNow posts a clean quarter and sticks to its growth narrative, a bruised stock can rebound fast — and if it doesn’t, price-target trims can turn into outright rating cuts.

Next up: ServiceNow reports after the bell on Wednesday, Jan. 28, and holds its conference call at 2 p.m. Pacific time, the company has said. ServiceNow Newsroom

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A dedicated markets reporter, she covers stocks, macroeconomics, and major business developments with a sharp eye for detail and accuracy.

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