ServiceNow stock falls 3.16% on death cross, expands IBM AI partnership
NOW•ServiceNow shares fell 3.16% to $102.71 after a bearish death cross technical pattern signaled profit-taking, underperforming a Nasdaq gain of 2.48%. The company announced an expanded AI partnership with IBM to roll out offerings in H2 2026, while analysts maintain a Buy consensus with an average price target of $139.
1. Stock Performance and Technical Outlook
ServiceNow shares declined 3.16% to $102.71, lagging a 2.48% Nasdaq rally as a death cross appeared on daily charts. This bearish crossover—when the 50-day moving average falls below the 200-day moving average—often triggers profit-taking after recent gains, raising questions about near-term momentum.
2. IBM AI Partnership and Analyst Consensus
ServiceNow expanded its AI collaboration with IBM to develop and deploy new generative AI tools for enterprise workflows, with initial offerings slated for H2 2026. Despite the pullback, analysts maintain a Buy consensus and an average price target of $139, implying roughly 35% upside from current levels.
