Key Highlights

• NOW shares rose approximately 1.67 percent to $129.65 intraday, up from a prior close of $127.20.

• The stock is extending a sharp rebound off multi-month lows following Q2 results that showed Now Assist AI products surpassing $1 billion in annualized contract value.

• The company announced an expanded multi-year AI Partnership with Tech Mahindra to help enterprises scale AI deployments.

• Continued institutional accumulation was seen in numerous 13F filings this week, alongside a Moderate Buy consensus and roughly $144 average price target.

Extending a Rebound Off Multi-Month Lows

ServiceNow, Inc. (NYSE:NOW) shares rose approximately 1.67 percent to $129.65 intraday, up from a prior close of $127.20, extending a sharp rebound off multi-month lows as investors continue to reward the company's AI-driven growth story after second quarter results showed Now Assist AI products surpassing $1 billion in annualized contract value, with subscription Revenue up 23 to 25 percent.

ServiceNow is a leading American Cloud Computing company headquartered in Santa Clara, California, that provides an end-to-end digital workflow automation platform for enterprises, with its flagship Now Platform leveraging AI, machine learning, and robotic process automation to power solutions across IT Service Management, IT Operations Management, Security Operations, Customer Service Management, Human Resources, and Governance, Risk, and Compliance.

New AI Partnership Adds to the Momentum

The stock is gaining further support from an expanded multi-year AI partnership announced today with Tech Mahindra to help enterprises scale AI deployments, along with recent price-target increases across software names and public commentary defending the stock against what some had called extinction-fear selling that had pushed shares down as much as 22 percent year-to-date despite strong underlying fundamentals.

Continued institutional accumulation was seen in numerous 13F filings this week, alongside a Moderate Buy consensus and roughly $144 average price target, underscoring improving sentiment even as concerns linger over the stock's lofty valuation and the pending $7.75 billion Armis acquisition.

What Investors May Watch Next

Market participants are likely to watch continued adoption of Now Assist AI products and progress on the new Tech Mahindra partnership. The pending Armis Acquisition and its integration timeline, along with broader software-sector sentiment, are additional factors that may shape sentiment going forward.

Conclusion

ServiceNow shares rose approximately 1.67 percent to $129.65 intraday, extending a rebound off multi-month lows as investors continue to reward the company's AI-driven growth story and a new enterprise AI partnership. Whether the rebound holds may depend on continued Now Assist adoption and progress integrating the pending Armis acquisition.