Company Overview - ServiceNow, Inc. (NYSE:NOW) is currently experiencing a significant decline, with the stock at a one-year low, down by $100 [1] - The company provides a cloud platform that supports digital workflows through AI, automation, low-code tools, analytics, and various IT, security, customer-service, and employee-experience products [2] Market Performance - The stock has been negatively impacted alongside other enterprise software companies like Adobe and Salesforce, indicating a broader industry struggle [1] - Despite being recognized as a leader in AI, ServiceNow's stock is still considered to have a high price-to-earnings (P/E) ratio of 42 times earnings, which is viewed as excessive [2] Investment Sentiment - There is a cautious sentiment regarding ServiceNow as an investment, with suggestions that other AI stocks may present better upside potential and lower downside risk [2] - The recent stock split and the overall performance of software companies have raised concerns about the sustainability of ServiceNow's valuation [2]