ServiceNow Shares Jump 12-14% on AI Control Tower Enthusiasm, BofA Buy Rating
NOW sits 59% above its 52-week low of $81.24 on elevated volume (2.7× avg).
Summary
ServiceNow shares surged 12-14% today, driven by market enthusiasm for its new "AI Control Tower" product and a reinstated "Buy" rating from Bank of America. Executives noted strong customer demand for centralized AI usage, cost monitoring, and integrated AI workflows on the platform. This positive reaction marks a significant rebound for the stock, which recently plunged 32% in early April after weak Q1 results and another 18% later that month following a cut to projected guidance. The market appears to be reacting strongly to this new AI-centric product strategy.
At the time of this announcement, NOW was trading at $128.81 on NYSE in the Technology sector, with a market capitalization of approximately $128.3B. The 52-week trading range was $81.24 to $211.48. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.