SAP (NYSE:SAP) Shares Gap Up on Analyst Upgrade

SAP SE (NYSE:SAP) gapped up before the market opened on Friday after BMO Capital Markets raised their price target on the stock from $175.00 to $177.00. The stock had previously closed at $146.38, but opened at $153.75. BMO Capital Markets currently has an outperform rating on the stock. SAP shares last traded at $156.8110, with a volume of 1,382,862 shares trading hands.

A number of other research analysts have also commented on the company. Piper Sandler lowered SAP from an “overweight” rating to a “neutral” rating in a report on Tuesday, April 14th. Weiss Ratings lowered SAP from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 16th. Wall Street Zen cut SAP from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. HSBC upgraded SAP from a “hold” rating to a “buy” rating in a report on Wednesday, April 22nd. Finally, Santander upgraded shares of SAP from a “neutral” rating to an “outperform” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, SAP presently has a consensus rating of “Moderate Buy” and an average target price of $267.00.

SAP News Summary

Here are the key news stories impacting SAP this week:

• Positive Sentiment: SAP delivered solid Q2 results, with total revenue up about 9% year over year, cloud revenue up more than 20%, and current cloud backlog rising sharply, reinforcing confidence in the company’s long-term growth engine. SAP Quarterly Statement Q2 2026
• Positive Sentiment: Management said SAP’s AI strategy and cloud momentum are supporting demand, with analysts and media reports noting that strong backlog growth helped offset concerns that AI could disrupt enterprise software. SAP Q2 Earnings Up Y/Y on Cloud Demand, Buyouts Impact Profit Outlook
• Positive Sentiment: BMO Capital Markets raised its price target on SAP and kept an outperform rating, suggesting Wall Street still sees upside after the earnings release. Benzinga / The Fly report
• Neutral Sentiment: Several reports highlighted SAP’s message that AI must move beyond basic chatbots and into more complex enterprise workflows before it creates meaningful returns, underscoring both opportunity and execution risk. Reuters SAP CFO AI comments
• Negative Sentiment: SAP lowered its 2026 operating profit outlook because AI acquisitions and related spending are weighing on earnings, which may cap near-term margin expansion even as revenue trends improve. SAP Cuts 2026 Operating Profit Outlook
• Negative Sentiment: Investors are also weighing the earnings miss versus expectations, as SAP’s quarterly EPS came in below consensus despite the strong cloud performance. SAP quarterly earnings report

Institutional Trading of SAP

Several hedge funds and other institutional investors have recently bought and sold shares of SAP. Brighton Jones LLC grew its position in SAP by 91.1% during the fourth quarter. Brighton Jones LLC now owns 2,633 shares of the software maker’s stock worth $648,000 after buying an additional 1,255 shares in the last quarter. Baird Financial Group Inc. bought a new stake in shares of SAP in the 1st quarter worth approximately $242,000. AQR Capital Management LLC lifted its position in shares of SAP by 49.0% in the 1st quarter. AQR Capital Management LLC now owns 16,309 shares of the software maker’s stock worth $4,378,000 after acquiring an additional 5,363 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of SAP during the 1st quarter worth approximately $2,681,000. Finally, Sivia Capital Partners LLC grew its holdings in shares of SAP by 2.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,050 shares of the software maker’s stock worth $928,000 after purchasing an additional 69 shares in the last quarter.

SAP Trading Up 9.3%

The business has a 50-day moving average price of $165.59 and a 200-day moving average price of $184.44. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $196.52 billion, a P/E ratio of 20.10, a PEG ratio of 1.68 and a beta of 1.14.

SAP (NYSE:SAP) last issued its earnings results on Friday, February 27th. The software maker reported $1.99 EPS for the quarter. The firm had revenue of $11.06 billion during the quarter. SAP had a return on equity of 17.16% and a net margin of 20.88%. Analysts anticipate that SAP SE will post 8.28 earnings per share for the current year.

About SAP

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company’s name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP’s product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.