Why AI Stock ServiceNow Got Thumped on Thursday

For the second time in as many days, ServiceNow (NYSE: NOW) was hit with an analyst price target cut on Thursday. That quick one-two blow leeched sentiment on the next-generation business process solutions developer, and its share price fell by more than 3%. The S&P 500 (SNPINDEX: ^GSPC), meanwhile, landed in positive territory with a slight (0.1%) gain.

The Thursday cut was delivered by Deutsche Bank‘s Brad Zelnick. He reduced his fair-value assessment of ServiceNow’s equity to…