| NOW |
Report |
Subscription Revenue (Q2'26) |
BEAT |
pred ~$3,845M vs. cons ~$3,825M |
MEDIUM |
| NOW |
Report |
Current RPO growth (cc, Q2'26) |
BEAT |
pred ~19.8% vs. cons/guide 19.5% |
MEDIUM |
| NOW |
Report |
Non-GAAP EPS (Q2'26) |
BEAT |
pred ~$0.88 vs. cons ~$0.86 |
MEDIUM |
| NOW |
Guide |
FY26 Subscription Revenue Guidance |
BETTER |
guide ~$15,800-15,850M vs. cons ~$15,760M (FY26) |
MEDIUM |
| NOW |
Guide |
FY26 Non-GAAP Operating Margin Guidance |
UNCHANGED |
guide ~31.5% vs. cons ~31.5% (FY26) |
MEDIUM |
| NOW |
Guide |
Q3'26 cRPO growth (cc) guide |
LOWER |
guide ~19.0% vs. cons ~19.5% (Q3 2026) |
LOW |
| NOW |
Return |
Day-1 residual (stock − beta × S&P 500) |
+4.5% |
— |
MEDIUM |
| NOW |
Return |
5-day cumulative residual |
+6.5% (FOLLOW-THROUGH) |
Stock is ~33% off highs and deeply oversold heading into print, with bearish (CLSA) and bullish (Oppenheimer/Guggenheim) views wide apart, meaning a beat-and-raise plus explicit pushback on IBM-style budget-reallocation fears should trigger short-covering and sell-side target/estimate revisions upward over the following days; FY26 subscription raise and reaffirmed AI-ACV trajectory (still tracking toward/above $1.5B) support continued buying, though the guided cRPO deceleration to ~19.5% cc (partly Armis termination-for-convenience mechanics) caps enthusiasm and could cause partial fade if framed as demand softening rather than mechanical, so net effect is follow-through rather than full reversal. |
LOW |