(NYSE: NOW) has been a popular stock lately, due in no small part to its assertive push into artificial intelligence (AI)-assisted solutions. On Monday, however, that popularity was dinged after an analyst downgraded the cloud computing specialist's shares. As a result, ServiceNow shed nearly 5% of its value.

Before market open, Guggenheim's John DiFucci changed his recommendation on ServiceNow stock. The prognosticator now believes the specialty tech company is a sell; previously he had tagged it with a neutral rating. His new price target on the stock is $640 per share.

DiFucci believes ServiceNow will not disappoint with its second-quarter earnings release, which is scheduled to be published later this month. Rather, he feels that the company will struggle a bit in the latter half of the year, and certain optimistic assumptions by management might not be realized.

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Source Fool.com