ServiceNow (NOW) is trading higher in a pre-earnings setup as investors look ahead to the company’s first-quarter 2026 results, scheduled for after the close on Wednesday, April 22, 2026. With sentiment recently pressured by an AI-driven SaaS selloff, incremental signs of confidence in the company’s AI monetization narrative and go-to-market expansion are helping drive dip-buying and short-covering behavior into today’s session.

The next major fundamental catalyst is the Q1 print on April 22, which has become a key near-term checkpoint for subscription growth durability and AI attach rates. Recent analyst framing has emphasized traction in ServiceNow’s AI products (including Now Assist) and the company’s ability to convert AI demand into higher-tier platform adoption, a debate that has been central to the stock’s volatility in recent weeks.

Investors are also weighing ServiceNow’s expanded partnership with Carahsoft, which broadens the availability of the ServiceNow AI Platform across Carahsoft’s commercial and industry channels, including verticals such as healthcare, financial services, retail, manufacturing, and critical infrastructure. Bulls see the channel expansion as a potential accelerator for penetration in regulated and mission-critical environments, supporting pipeline and longer-duration subscription demand.

Into April 22, traders will focus on subscription revenue growth, remaining performance obligations momentum, and any updated color on AI monetization metrics and customer upgrade behavior. Any sign that AI is driving incremental platform spend—rather than cannibalizing workflow software budgets—could continue to support a rebound, while soft demand signals would likely revive the valuation and disruption concerns that recently weighed on the group.