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ServiceNow Stock Tumbles 50% in a Year: Good Earnings Don’t Stop ‘Death of SaaS’

1/30/2026 · 3 min read

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Despite exceeding Q4 earnings guidance, ServiceNow's stock plummeted by 50% over the past year, mirroring significant declines seen by Salesforce and Adobe. This performance fuels discussions about a potential 'death of SaaS' as investors remain unconvinced by current AI integrations and high valuations.

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