Why ServiceNow Rallied Today
The software sector got a lift from Salesforce's earnings report last night, showing that fears of a "SaaS-pocalypse" may have been overblown.
Overview
Shares of enterprise software giant ServiceNow (NYSE: NOW) rallied 9.2% on Thursday as of 1:26 p.m. EDT.
ServiceNow didn't report any news today, but its close peer Salesforce (NYSE: CRM) reported earnings last night.
Details
Both stocks had been punished earlier this year, as the emergence of agentic AI spurred fears that the new capability would disrupt the software sector, in what has been called the "SaaS-pocalypse." However, Salesforce's outstanding earnings report last night appeared to allay those fears.
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.