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Dec 15, 2025 4:00 PM

ServiceNow Faces Potential Microsoft Challenge To Its AI Orchestration Lead In 2026, Analyst Says

ServiceNow, Inc. (NYSE:NOW) shares are trading lower after Keybanc analyst Jackson Ader downgraded the stock from Sector Weight to Underweight and announced a price target of $775.

• ServiceNow stock is showing notable weakness. What’s behind NOW decline?

Analyst View

The analyst writes that the recent trends in IT back-office employment raise concerns that ServiceNow could face AI-related pressure in the coming quarters.

While ServiceNow's own AI offerings use a hybrid monetization model that ...