--- title: "Weekly Recap | ServiceNow +12.63%, closing in on record highs" type: "News" locale: "en" url: "https://longbridge.com/en/news/297389460.md" description: "ServiceNow (NOW) rose 12.63% this week to close at $144.71, well ahead of the S&P 500’s 0.49% gain for a relative outperformance of roughly 12.14 percentage points. The daily tape showed a split week: the stock opened at $128.055 on Monday and drifted lower through Wednesday, touching $121.88. Thursday brought a sharp turn as volume surged to 27.8m shares and the price jumped to $138.43, followed by another leg up on Friday to a high of $145.72." datetime: "2026-08-29T06:02:22.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/297389460.md) - [en](https://longbridge.com/en/news/297389460.md) - [zh-HK](https://longbridge.com/zh-HK/news/297389460.md) generator: "portal-rs" --- # Weekly Recap | ServiceNow +12.63%, closing in on record highs ## The Week ServiceNow (NOW) rose 12.63% this week to close at $144.71, well ahead of the S&P 500’s 0.49% gain for a relative outperformance of roughly 12.14 percentage points. The daily tape showed a split week: the stock opened at $128.055 on Monday and drifted lower through Wednesday, touching $121.88. Thursday brought a sharp turn as volume surged to 27.8m shares and the price jumped to $138.43, followed by another leg up on Friday to a high of $145.72. The stock finished near the top of its weekly range. Full-week amplitude reached 18.62%, while average daily volume sat about 11% below the 60-day median. ## Key Events Early in the week, software names came under pressure after Intuit’s guidance disappointed, and ServiceNow fell about 2% on Wednesday amid questions over AI spending. Thursday turned the narrative around: Salesforce beat quarterly estimates and raised its outlook, sparking a broad enterprise-software rally that briefly pushed ServiceNow up nearly 9%. The company also announced it is bringing AI deal optimisation into its sales workflows and said AI is driving growth rather than pressuring budgets. On Friday, Bank of America upgraded the stock and lifted its target, helping extend gains into the close. Option activity picked up as well, with some call contracts seeing outsized moves. No material company filings were released during the week. ## Analyst Ratings A total of 51 brokers cover ServiceNow: 35 rate it buy, 10 rate it overweight, 2 rate it hold, 1 rate it underweight, 1 rate it sell, and 2 have no opinion. The consensus recommendation is strong buy, and the consensus target price is $142.23, roughly 1.71% below the last close of $144.71. The target range is wide, from $72 to $248, pointing to meaningful dispersion among brokers on valuation. Within the 47 names in the systems software industry, ServiceNow ranks 4th by analyst rating. ## The Week Ahead The US macro calendar is in focus next week: the Dallas Fed manufacturing business activity index on Monday, followed by the S&P Global manufacturing PMI final, ISM manufacturing PMI, and JOLTS job openings on Tuesday, then ADP private payrolls, factory orders, and EIA crude inventories on Wednesday. These releases will shape the market’s view on manufacturing and the labour market, which in turn may affect rate expectations and risk appetite for software names. No company earnings are scheduled for ServiceNow during the week ahead. ## In Short ServiceNow’s week started under pressure from cautious software sentiment and ended with a sharp, AI-driven rebound after Salesforce’s strong results. Broker coverage is deep and the consensus rating sits at strong buy, but the consensus target price is now slightly below spot, and the wide target range plus a P/E around 89.79x and P/B around 11.98x reflect an elevated valuation backdrop. On the latest trading day, large-lot money was a net buyer, with medium and small lots also skewed to inflows. The key question going forward is whether next week’s macro data temper risk appetite, and whether AI momentum can carry the stock at these valuation levels. *This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [NOW.US](https://longbridge.com/en/quote/NOW.US.md) - [NOWL.US](https://longbridge.com/en/quote/NOWL.US.md) ## Related News & Research - [Prediction: ServiceNow's AI Business Triples Before 2029](https://longbridge.com/en/news/298843193.md) - [Fortune to Hold Inaugural Fortune AIQ Summit in Partnership with ServiceNow | NOW Stock News](https://longbridge.com/en/news/298609556.md) - [ServiceNow says India enterprise AI investment jumps 119% in 2026 study](https://longbridge.com/en/news/298261205.md) - [Why shares of ServiceNow stock were rising this week](https://longbridge.com/en/news/294541409.md) - [ServiceNow Stock Holds Above Key Moving Averages: What's Next?](https://longbridge.com/en/news/294224667.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**