What is going on?? The boost converter stops switching, as it realizes the 5V output is too high.
But, the output keeps rising.... I added an addition 100uF 10V X5R 1206 capacitor across the output and input of the boost converter, but it still does the same thing.
Edit, I also measured with a 0.1Ohm shunt on the servo ground line, that the current does go a tiny bit negative during the time when 5V overshoots.
a current moving though a wire creates a magnetic field
a magnetic field moving past a wire creates a current
the motor contains coils of wire. a current moving through a coil of wire creates a large magnetic field
when you cut off that current, the magnetic field collapses inward
the inward collapsing magnetic field is a magnetic field in motion. it creates a current surge in the coil.
the voltage of the current surge is not related to the voltage that created the magnetic field. the voltage of the current surge is related to the rate of collapse of the current
you need a snubber diode, AKA a flyback diode, AKA a commutating diode
these names describe the function of the diode, not the name of the diode. any junk box or Radio Shack diode should work. connect it across the positive and negative terminals of the motor, anode to negative and cathode to positive, so it absorb the reverse current surge caused by the magnetic field collapse.
The boost converter and the battery combination is inadequate to handle the start/stall current of the servo, and the circuit lacks proper power supply decoupling.
Due to boost converter inefficiency, 5W output to the servo requires about 6W input from the battery, or 6W/3.7V = 1.6 Ampere battery current draw.