ServiceNow advanced 6.1% in early trading on Tuesday, lifting its share price to $145.08. The gain extended a recovery from a 52-week low of $81.24 reached earlier in the year.
The rally followed upgrades from Bank of America and Wells Fargo, both of which raised their price targets while maintaining bullish ratings. Bank of America lifted its target to $150 from $130, while Wells Fargo increased its target to $175 from $160. The upgrades were issued in mid-August, coinciding with ServiceNow’s appearance at the Deutsche Bank Technology Conference on August 27, where executives emphasized progress in its agentic AI strategy.
The company also highlighted a key milestone in its AI segment, with annual contract value crossing $1 billion in the second quarter of 2026. This figure reflects growing adoption of its AI-driven enterprise solutions.
Broader equity benchmarks advanced modestly, with the S&P 500 up 0.6%, the Nasdaq gaining 0.9%, and the Dow Jones adding 0.8%. The positive momentum in ServiceNow shares contrasted with the broader market’s mixed performance, as investors weighed technology sector developments alongside macroeconomic conditions.
