Seeking Alpha
30 Oct 2026, 05:19 UTC · 1h ago
ServiceNow: Difficult Print, But An Opportunity To Double Down
Impact · against what's priced in
The Q3 earnings miss is a negative catalyst that challenges the current price's reliance on stable subscription growth and high-teen margins. While the author points to 2027 earnings acceleration, the market is not currently paying for that bullish scenario, rendering the long-term optimism neutral for the present price.
- NOW−0.40
Challenges what's priced in
- The price assumes
Subscription revenue growing near 21-24% annually
A rare Q3 earnings miss and the fact that AI momentum is not yet accelerating subscription revenue undermine the current expectation of sustained 21-24% growth.
What NOW's price assumes · Sep 3
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