ServiceNow Stock Today (NOW): AI Momentum, 5‑for‑1 Split and Security Questions

ServiceNow stock (NYSE: NOW) is back in the spotlight this weekend as investors weigh powerful AI‑driven growth against premium valuation and fresh security concerns around its flagship Now Assist platform.

As of the latest available trade data, ServiceNow shares are changing hands at about $813.43, modestly above where they started the week. That price still leaves the stock well below its 2025 highs, even after a strong third quarter and a planned 5‑for‑1 stock split designed to make the shares more accessible to employees and retail investors. ^[1]

Below is a deep dive into what’s moving ServiceNow stock today, what the latest numbers say, and what to watch into year‑end.

ServiceNow stock price snapshot for November 23, 2025

Latest price: ≈ $813.43 per share (recent trading)
Recent volatility: Shares slipped about 2% on Thursday after an insider sale was disclosed, briefly trading below $800 before recovering. ^[2]
Year‑to‑date context: As of late October, ServiceNow was down nearly mid‑teens percentage for 2025 even after a positive reaction to earnings, significantly lagging the broader tech rally. ^[3]

In other words, the business looks strong, but the stock is still digesting a big run‑up from prior years and a market that has become more selective about high‑multiple AI names.

Q3 2025 earnings: AI demand keeps growth above 20%

ServiceNow’s latest quarter, reported on October 29, 2025, was objectively strong:

Subscription revenue: $3.299 billion, up 21.5% year over year (20.5% in constant currency).
Total revenue: $3.407 billion, up 22% year over year.
Current remaining performance obligations (cRPO): $11.35 billion, up 21% year over year. ^[4]
Adjusted EPS: about $4.82, well ahead of Wall Street expectations just above $4.20. ^[5]

Management didn’t just beat expectations; it raised its 2025 outlook:

Full‑year subscription revenue guidance increased to roughly $12.84–$12.85 billion, up from a prior $12.78–$12.80 billion range and ahead of analyst consensus around $12.79 billion. ^[6]

CEO Bill McDermott framed the results as proof that ServiceNow has become an “AI platform for business transformation”, highlighting strong traction for tools like Now Assist, Workflow Data Fabric and RaptorDB. ^[7]

However, not all reaction was euphoric:

Post‑earnings analysis noted that while revenue and EBITDA beat expectations, billings came in weaker, and the shares actually fell in the weeks after the report, at one point trading more than 8% lower than their pre‑earnings level. ^[8]

The takeaway: fundamentals look robust, but investors are increasingly sensitive to any hint of deceleration when a stock carries a premium multiple.

5‑for‑1 stock split: what it means for NOW investors

One of the biggest headlines from Q3 was ServiceNow’s decision to pursue a 5‑for‑1 stock split:

The Board of Directors approved the split on October 29, 2025.
The split is subject to shareholder approval at a special meeting scheduled for December 5, 2025. ^[9]

If approved:

Every one share of NOW would become five shares.
The share price would be divided by five, but investors’ total economic exposure would remain unchanged.
Stock‑based compensation and employee participation could become easier, and options trading more accessible at the lower absolute price point.

MarketWatch noted that ServiceNow’s move stands out because stock splits have been relatively rare in 2025, and comes against a backdrop where the shares were still down nearly 14% for the year when the split was announced. ^[10]

For investors, the split is cosmetic in terms of fundamentals, but it can have second‑order effects:

Psychological impact & liquidity: Lower per‑share prices can attract incremental retail interest and sometimes improve trading volumes.
Index and options dynamics: More granular option strikes and higher retail participation can change the trading character of the stock.

However, the split does not change ServiceNow’s valuation, growth rate, or competitive position.

AI strategy: new models, new UI and big‑name integrations

The bull case for ServiceNow stock in late 2025 is almost entirely about AI‑driven workflows at enterprise scale.

Upgraded AI models (v2.0)

On October 16, ServiceNow announced v2.0 of its own small and large language models for Now Assist and AI agents. ^[11]

Key points:

Small Language Model v2.0: Tuned for fast, efficient handling of complex tasks and multi‑step workflows.
Large Language Model v2.0: Focused on high‑performance reasoning, better long‑context understanding, and more sophisticated “agentic” workflows where AI agents plan and act autonomously.
Both models aim to deliver faster responses and more reliable outputs in enterprise scenarios like policy analysis, knowledge retrieval and large‑document summarization.

From October 16 onward, new Now Assist customers and upgraded instances get these v2.0 models as the default configuration, assuming they move to Generative AI Controller 11.2. ^[12]

Zurich platform release and “AI Experience” UI

In its Q3 release, ServiceNow also highlighted: ^[13]

AI Experience – a new, context‑aware interface meant to be the main entry point for employees to interact with AI, delegate tasks, and consume information.
The Zurich platform release, which focuses on multi‑agent AI development, autonomous workflows, and tighter governance features such as ServiceNow Vault Console and Machine Identity Console.

These product moves are intended to reinforce the narrative that ServiceNow is not just another SaaS vendor, but an end‑to‑end AI platform unifying data, workflows, and automation.

Fresh integrations with Microsoft, Tanium, Palo Alto Networks and more

Adding to that story, a new analysis published today highlights that ServiceNow recently rolled out a broad set of integrations with:

Microsoft
Tanium
Palo Alto Networks
Aria Systems
Camunda

These partnerships aim to extend AI‑driven workflow orchestration, security, and automation across multiple enterprise platforms, enabling more proactive management and governance of AI agents. ^[14]

For investors, these integrations help:

Deepen ServiceNow’s footprint inside large existing customers.
Offer a more convincing cross‑platform AI story, particularly for CIOs standardizing on Microsoft 365, security tools from Palo Alto, and process orchestration engines like Camunda.

Security red flag: Now Assist “second‑order” prompt injection risk

One of the more worrying headlines this week did not come from Wall Street, but from cybersecurity researchers.

AppOmni and independent security outlets have disclosed that ServiceNow’s Now Assist AI agents can be abused via a “second‑order prompt injection” attack: ^[15]

Malicious instructions are hidden in data that a low‑privilege AI agent is allowed to read.
That agent can then recruit a more privileged agent, which may exfiltrate sensitive data, modify records, or escalate access — all under the original user’s privileges and often without obvious human visibility.
Critically, researchers emphasize this behavior is driven by default configuration options, not an isolated bug.

ServiceNow’s response has been to state that the system is behaving as designed while updating documentation and guidance. Recommended mitigations include:

Enabling supervised execution modes for sensitive AI agents.
Disabling autonomous override properties where appropriate.
Segmenting agent duties and monitoring for suspicious activity. ^[16]

For shareholders, the implications are nuanced:

On one hand, security concerns can weigh on sentiment, especially for a platform marketed as central to digital transformation and AI orchestration.
On the other, the incident underlines how deeply embedded ServiceNow is in enterprise workflows—and may drive demand for additional security, governance, and observability features that the company can monetize over time.

Still, over the short term, investors should expect headlines around AI security to add volatility to NOW stock, particularly if more customers or regulators focus on multi‑agent AI risks.

Valuation check: a high‑multiple AI champion

Despite the pullback in 2025, ServiceNow still trades at a premium valuation:

Trailing P/E ratio: ~98x.
Forward P/E: ~91x.
PEG (price/earnings‑to‑growth) ratio: ~4.1. ^[17]

Earnings expectations are also steep:

MarketBeat data suggests earnings per share are projected to grow from about $8.93 to $11.49 next year — nearly 29% growth. ^[18]

Analysts, on balance, remain constructive:

Roughly three dozen analysts follow the stock, with the majority rating it “Buy” or “Overweight.”
The average price target sits around $1,160, significantly above the current ~$813 level (pre‑split), implying substantial upside if the company executes. ^[19]

However, that upside is predicated on sustained 20%+ revenue growth, continued AI adoption, and expanding margins—all during a period when enterprise IT budgets and AI spending priorities are still in flux.

Other moving parts: Moveworks acquisition and federal spending

Two more factors on investors’ radar:

Moveworks acquisition under DOJ review
- ServiceNow’s planned $2.85 billion acquisition of AI firm Moveworks remains under review by the U.S. Department of Justice. ^[20]
- The deal would significantly deepen ServiceNow’s generative AI capabilities but adds regulatory and integration risk.
U.S. Federal segment and macro uncertainty
- In its Q3 outlook, ServiceNow flagged that U.S. federal agencies are confronting budget constraints and evolving missions, and even noted that a recent government shutdown could affect deal timing in the near term. ^[21]
- That commentary helps explain why some investors remain cautious despite the strong headline numbers.

Key catalysts to watch into year‑end

For anyone following NOW stock closely over the next few weeks, several dates and themes matter:

December 5, 2025 – shareholder vote on 5‑for‑1 split
- Approval is widely expected, but the exact timing of split‑adjusted trading and any accompanying commentary from management could move the stock.
Rollout of AI Models v2.0 & Zurich features
- Adoption rates, early customer feedback, and case studies around the new AI Experience UI and multi‑agent workflows will shape how much of ServiceNow’s AI story translates into incremental revenue and upsell. ^[22]
Security follow‑through on Now Assist
- Additional disclosures, patches, or best‑practice guidance related to second‑order prompt injection risks may influence customer trust and regulatory scrutiny. ^[23]
Next earnings report – expected around February 4, 2026
- Q4 results will show whether the raised guidance was conservative and how much AI‑driven upsell and cross‑sell is actually landing in the numbers. ^[24]

Is ServiceNow stock a buy, hold, or wait‑and‑see today?

This article can’t tell you what to do with your own money, but it can clarify the trade‑offs investors are weighing around ServiceNow stock right now.

The bullish view

Supporters of NOW tend to focus on:

Sustained 20%+ revenue growth, even at a large scale. ^[25]
A compelling AI platform story, with proprietary models (v2.0), agentic workflows, and deep integrations into tools enterprises already use.
A long runway for workflow automation, IT service management, security operations, and customer service across industries.
The stock split and AI partnerships as additional ways to widen the shareholder base and deepen customer stickiness.

The cautious view

More cautious investors highlight:

A near‑triple‑digit P/E and rich PEG multiple that leave little margin for error. ^[26]
Signs of billing and federal‑sector softness that could foreshadow slower growth if macro conditions worsen. ^[27]
Security concerns around Now Assist’s default AI agent configurations, which could prompt some customers to move more slowly or demand concessions. ^[28]
Regulatory and integration risk around the Moveworks acquisition. ^[29]

Bottom line

As of November 23, 2025, ServiceNow stock sits at the intersection of strong AI‑driven fundamentals and elevated expectations:

The company is delivering impressive growth and profitability, with rising guidance and a robust pipeline of AI innovation.
The stock, however, already prices in a lot of that future, and is now grappling with investor concerns about valuations, security, and macro‑sensitive segments like U.S. federal.

For long‑term investors who believe in ServiceNow as a core enterprise AI and workflow platform, the current consolidation phase may look like an opportunity to build or maintain exposure—especially if they are comfortable with volatility and a premium multiple. More risk‑averse market participants may prefer to wait for clearer signals from the December split vote, the next earnings report, or further clarity on AI security and regulatory issues.

Either way, ServiceNow remains one of the most closely watched AI platform stocks in the market, and developments in the coming weeks are likely to feature prominently in both its share price and the broader conversation about enterprise AI adoption.

This article is for informational purposes only and does not constitute financial, investment, or trading advice. Always do your own research or consult a licensed financial professional before making investment decisions.