Why ServiceNow Stock Lagged the Market on Monday
Not for the first time in the past few trading days, ServiceNow (NYSE: NOW) stock received a price target cut from an analyst tracking the company. Investors clearly took the move to heart, sending the shares to a slight (0.1%) loss in price on Monday. They were more positive on other stocks, as the bellwether S&P 500 (SNPINDEX: ^GSPC) ticked up by 0.6%.The day's reduction came from Joel Fishbein of Truist Securities, who knocked $150 per share off his ServiceNow fair value assessment. It now stands at $950 per share. Meanwhile, the pundit maintained his hold recommendation on the stock. Fishbein's cut was part of a broader analysis on the infrastructure and security software segments of the tech industry. According to reports, the analyst wrote that companies in these sector niches are trading lower due to uncertainty over policy decisions being made by the Trump administration. Continue reading
Not for the first time in the past few trading days, ServiceNow (NYSE: NOW) stock received a price target cut from an analyst tracking the company. Investors clearly took the move to heart, sending the shares to a slight (0.1%) loss in price on Monday. They were more positive on other stocks, as the bellwether S&P 500 (SNPINDEX: ^GSPC) ticked up by 0.6%.
The day's reduction came from Joel Fishbein of Truist Securities, who knocked $150 per share off his ServiceNow fair value assessment. It now stands at $950 per share. Meanwhile, the pundit maintained his hold recommendation on the stock.
Fishbein's cut was part of a broader analysis on the infrastructure and security software segments of the tech industry. According to reports, the analyst wrote that companies in these sector niches are trading lower due to uncertainty over policy decisions being made by the Trump administration.
