Changes in US stocks | AI application software stocks weakened at the beginning of the market and fell more than 23% after ServiceNow (NOW.US) performance

Zhitongcaijing · 2d ago

Zhitong Finance App learned that on Thursday, US AI application software stocks weakened at the beginning of the market. ServiceNow (NOW.US) fell more than 23% after the results, Atlassian (TEAM.US) fell more than 6%, and CRM.US (CRM.US) fell nearly 5%. According to the news, ServiceNow announced financial results for the third quarter of 2026. According to the data, the company's revenue for the quarter reached US$4.106 billion, up 20.5% year on year, up 20% at a fixed exchange rate; GAAP net profit was US$277 million, down about 45% from US$502 million in the same period last year; and GAAP diluted earnings per share were US$0.27, down from US$0.48 in the same period last year.

Morgan Stanley released an in-depth study of the company for the third quarter, pointing out that the core contradiction is that the company's AI commercialization data is impressive, but AI dividends have yet to be translated into an increase in overall business growth. The bank maintained the “Overweight (Accumulation)” rating, but lowered the target price from $180 to $160; during the reporting period, the company closed at $150.13, with a market capitalization of US$156.586 billion. Judging that the stock price may fluctuate in the short term, it is necessary to see the core indicator CrPO accelerate again in order to open up room for upward valuation.