Key Moments
- ServiceNow (NYSE:NOW) climbed 2.5% in pre-market trading, reaching $137.40 as it co-hosts the Fortune AIQ Summit at the New York Stock Exchange.
- Accenture’s stock jumped 18% after strong results and guidance, providing a positive read-across for ServiceNow shares.
- Multiple analyst price target hikes over the past two weeks pushed the average target to about $147, above current pre-market levels.
AI Summit Puts ServiceNow in the Spotlight
Investing.com — ServiceNow stock rose 2.5% in pre-open trading today, reaching $137.40, as the company co-hosts the Fortune AIQ Summit at the New York Stock Exchange – a one-day event dedicated to the practical deployment and scaling of artificial intelligence across enterprises. The summit, held under the theme of putting AI to work, places ServiceNow directly at the center of the enterprise AI conversation at a moment when investor appetite for credible AI platform plays remains strong.
Boost from Accenture’s Performance
ServiceNow shares were also boosted by strong results from its partner, Accenture. Accenture’s stock jumped 18% following strong results and guidance.
Analyst Targets Move Higher
Adding to the momentum, a cluster of analyst price target increases issued over the past two weeks continues to provide a constructive backdrop. Deutsche Bank raised its target from $135 to $155 while maintaining a Buy rating, citing the company’s strong quarterly execution, while Cantor Fitzgerald lifted its target to $174 and Needham moved to $155, both keeping bullish ratings. The consensus analyst view sits at a Moderate Buy with an average price target of approximately $147 – still above current pre-market levels – which limits selling pressure and supports the upward drift.
| Firm | Previous Target | New Target | Rating |
|---|---|---|---|
| Deutsche Bank | $135 | $155 | Buy |
| Cantor Fitzgerald | Not specified | $174 | Bullish |
| Needham | Not specified | $155 | Bullish |
Market Backdrop and Fundamentals
The broader market is lending mild assistance, with the S&P 500 up 0.25% and the NASDAQ gaining 0.5% in today’s session, creating a favorable backdrop for technology and software names. ServiceNow’s fundamental story also remains intact: the company reported Q2 2026 subscription revenue of $3.877 billion, representing 24.5% year-over-year growth, and raised its full-year 2026 subscription revenue guidance to $15.76–$15.78 billion, with the next earnings release expected around October 27–28.
| Metric | Value |
|---|---|
| Q2 2026 subscription revenue | $3.877 billion |
| Year-over-year subscription revenue growth | 24.5% |
| Full-year 2026 subscription revenue guidance | $15.76–$15.78 billion |
Valuation Gap vs 52-Week High
Together, the high-visibility AI summit appearance, the sustained wave of analyst optimism, and a supportive macro tape have combined to lift ServiceNow shares in pre-market trading today, even as the stock remains well below its 52-week high of $192.97 – a gap that many on Wall Street view as an opportunity rather than a warning sign.
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