$NOW

Bank of America upgraded Salesforce (CRM) to Buy, raising its price target to $285, citing AI adoption and strong free cash flow. Barclays downgraded Dell (DELL), HPE (HPE), NetApp (NTAP), HubSpot (HUBS), and monday.com (MNDY) due to AI growth concerns. Deutsche Bank upgraded Walmart (WMT) to Buy, targeting $136, citing inflation benefits. RBC downgraded GoDaddy (GDDY) to Sector Perform, citing AI's impact. MongoDB (MDB) ratings reaffirmed by Needham and BofA.

The Internet Engineering Task Force (IETF) is working to standardize identity layers for autonomous agents, with ID-JAG as the leading candidate. Okta, Ping Identity, and others are already commercializing ID-JAG, despite its draft status. The IETF's standardization process is fragmented, with differing approaches and unresolved disagreements.

Tech selloff hit software and chip stocks on Friday, with the iShares Expanded Tech-Software Sector ETF (IGV) down 4.8% and the iShares Semiconductor ETF (SOXX) off 4.1%. Key decliners included ServiceNow (NOW, -4%), Oracle (ORCL, -5%), Salesforce (CRM, -2%), and Twilio (TWLO, -10.6%). Analysts cited AI and interest-rate fears as drivers of the broad-based decline.

Analysts expect Procter & Gamble (PG) to show stronger sales, while UBS lowers Six Flags (SIX) price target due to accident concerns. UBS warns Apple (AAPL) iPhone demand may weaken. Bank of America upgrades Fox (FOXA) and Meta (META), citing growth prospects. Roblox (RBLX) sees modest player activity recovery. Semtech targets data center revenue growth. Chipotle (CMG) may report in-line sales. Spectrum Brands (SPB) gets Buy rating. Microsoft (MSFT) price target raised.

Government officials and tech experts are calling for AI regulation amid safety concerns. OpenAI faces lawsuits over harm to children. Investors worry about AI revenue growth slowdown, impacting companies like Anthropic. AI firms like Nvidia and Meta continue advancing models, while suppliers debut scaling technologies. Tech earnings season begins next week with key players like Netflix, Tesla, and Meta.

ServiceNow (NOW) shares rose 5.33% to $147.445 after launching AI Passport, a tool to manage AI agent permissions. The company reported $1B in AI annual contract value and $3.877B in Q2 subscription revenue. AI Passport is expected to launch in Q4 2026, with potential to expand customer budgets. The stock is 39.79% below GF Value estimate.

ServiceNow (NOW) reported Q2 revenue of $3.987B (+24% YoY), beating estimates. AI contract value surpassed $1B, and guidance was raised. Analysts set a $246.50 price target (77.84% upside). Despite GAAP margin declines, non-GAAP metrics and free cash flow improved. Competitors include Salesforce (CRM) and Workday (WDAY).

Piper Sandler raised its price target for ServiceNow to $175 from $140. The company's stock was trading at $148.57, up 6.14% in pre-market. The adjustment reflects changes in valuation and earnings revisions.

ServiceNow (NOW) shares rose 6.9% to $149.15 in after-hours trading, adding ~$10B to its market value. The stock held above $147 early in the session before climbing further, indicating strong buying interest. The next day's open will test the sustainability of the gain.

ServiceNow (NOW) shares rose 5.1% after announcing AI updates to EmployeeWorks, enabling workers to create AI agents without coding. The company also introduced ToolSmith to speed up tool creation. CNBC noted broader tech rebound due to falling Treasury yields. ServiceNow is down 22.3% from its 52-week high, trading at $147.06.