ServiceNow is trading 4.3% down at $103.15 in pre-market following Goldman Sachs lowering its price target to $145 from $163.
- High-valuation software names continue to face pressure as investors maintain a cautious outlook on SaaS and AI business models.
- This decline extends a recent pullback for the stock, which had seen earlier gains supported by bullish AI partnerships and a Buy rating from Bank of America in May.