Why ServiceNow Stock Dove by Almost 3% on Wednesday

Investors turned away from business process software stock ServiceNow (NYSE: NOW) on Hump Day. That was on the back of an analyst's price target cut, even though said pundit remained generally optimistic about the company's prospects.Regardless, the market's reaction was expressed in a sell-off that pushed the stock's price down by 2.6%, a steeper fall than the S&P 500's (SNPINDEX: ^GSPC) 1.1% slide.Baird prognosticator Rob Oliver was the individual behind the move. Before the market open, he adjusted his ServiceNow price target downward, to $1,010 per share from his preceding $1,200. That was the bad news for the company and its investors. The good news was that Oliver maintained his outperform (read: buy) recommendation on the stock. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool