Why AI Stock ServiceNow Got Thumped on Thursday
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ServiceNow's stock fell over 3% after two analysts cut their price targets. Deutsche Bank's Brad Zelnick lowered his target from $1,300 to $1,050 while maintaining a buy recommendation. TD Cowen's Derrick Wood also reduced his target to $1,100, citing concerns over potential cuts in government contracts due to the Trump administration's efficiency initiative. Despite these cuts, analysts expect ServiceNow to report year-over-year growth in revenue and profitability in its upcoming earnings release.
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