ServiceNow shares drop 7% on oil jump, blockades
Watch: Watch the next earnings call for updates on AI revenue growth amid macro headwinds.
Full analysis
ServiceNow stock dropped over 7% amid a broader market decline triggered by oil prices jumping over 8% following President Trump's Strait of Hormuz blockade order. June S&P 500 and Nasdaq 100 futures fell 0.62% and 0.64%, respectively. Despite this, Mizuho maintains an Outperform rating and an insider purchased $3M in shares recently.
The sell-off indicates sensitivity to macro risks despite strong fundamentals and insider confidence, suggesting near-term volatility amid geopolitical tensions.
Evidence
21h ago
Stocks Set to Open Lower as Oil Prices Top $100 After U.S.-Iran Talks Collapse, Big Bank Earnings Awaited
yahoo-finance
1d ago
Mizuho main NOW: Outperform → Outperform
1d ago
Insider buy by MCDERMOTT WILLIAM R (NOW): $3,000,058
4d ago
Stifel Bullish on ServiceNow (NOW) As Company Rebuilds Its Backlog Following Strong Year-End Push
yahoo-finance
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