ServiceNow shares rose about 14% to roughly $124 after closing Thursday at $108.73, reflecting a rebound from a deeply oversold position that remains about 47% below the one-year high. The broader enterprise software complex moved higher as investors rotated back into beaten-down names following Dell Technologies’ blowout quarter. Dell reported Q1 FY2027 revenue of $43.84 billion, up 88% year over year, and non-GAAP EPS of $4.86 versus an estimate of $2.96. AI-optimized server revenue reached $16.13 billion, up 757% year over year, with $24.4 billion in AI orders booked, and guidance was raised for both revenue and AI servers. Snowflake reported strong AI-related results and raised product revenue guidance, while Wipro added a direct catalyst for ServiceNow.
"Shares of ServiceNow ( NYSE:NOW | NOW Price Prediction) are up 14% in Friday trading, changing hands at roughly $124 after closing Thursday at $108.73. The pop comes as capital rotates back into beaten-down enterprise software names following a blowout quarter from Dell Technologies ( NYSE:DELL). The move is striking given the setup. ServiceNow stock still sits 47% below its one-year high, so this is a bounce off of a deeply oversold tape."
"Dell Technologies reported Q1 FY2027 results after Thursday's close, posting revenue of $43.84 billion, up 88% year over year (YoY) against a consensus near $35.77 billion. Non-GAAP EPS of $4.86 crushed the $2.96 estimate by 64%. The headline figure was AI-optimized server revenue of $16.13 billion, up 757% YoY, with $24.4 billion in AI orders booked during Q1. Dell Technologies also raised its full-year FY27 revenue guidance to $165 billion to $169 billion and lifted its full-year AI server outlook to roughly $60 billion."
"Those numbers validate the enterprise AI buildout that ServiceNow is leveraged to. ServiceNow sits as the workflow and governance layer on top of that infrastructure spend, and the read-through is direct. Dell stock is up 29% in Friday's session. Snowflake Halo and a Wipro Partnership Add Fuel The rotation started earlier in the week when Snowflake reported Q1 FY2027 revenue of $1.39 billion, up 34% YoY, and raised its full-year product revenue guide to $5,840 million."
"CEO Sridhar Ramaswamy called Q1 "a clear inflection point" in Snowflake's AI journey. That print reframed the "SaaSpocalypse" narrative that had crushed enterprise software multiples. Snowflake stock is up 4% Friday, extending a recovery week. ServiceNow also got a direct catalyst. Wipro an"
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