Goldman raises SAP stock target from EUR 215.00 to EUR 230.00

Published on 10/07/2026 at 10:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cloud backlog hit EUR 22.90 billion in the second quarter of 2026, up 27.00 percent. SAP stock costs EUR 187.99 on October 7, 2026 after EUR 187.21.

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SAP stock (ISIN DE0007164600) was trading at EUR 187.99 at Lang & Schwarz on October 7, 2026 at 10:35 a.m. CEST, up 0.42 percent versus the prior close of EUR 187.21. According to Goldesel on October 6, 2026, Goldman Sachs raised its SAP price target from EUR 215.00 to EUR 230.00 and kept a Buy rating.

Goldman lifts the valuation bar

The new target is EUR 42.01 above the Lang & Schwarz price, equal to 22.35 percent using the same euro reference. That comparison gives the analyst action more weight than the modest daily move, although the target remains an estimate rather than a guaranteed outcome.

Goldman's change also contrasts with the stock's wider trading range. SAP's 52-week range was EUR 127.50 to EUR 244.30 as of October 7, 2026, placing the Lang & Schwarz quote EUR 56.31 below the high and EUR 60.49 above the low.

Cloud backlog reaches EUR 22.90 billion

SAP reported second-quarter and half-year 2026 results on July 23, 2026. Cloud backlog reached EUR 22.90 billion, up 27.00 percent year on year, while cloud revenue increased 22.00 percent.

Total revenue rose 9.00 percent in the second quarter of 2026, or 11.00 percent at constant currencies. IFRS operating profit increased 8.00 percent, and the company said its 2026 non-IFRS operating profit outlook had been updated for the dilutive effect of the Dremio and Prior Labs acquisitions.

Results date sets the next test

SAP's investor-relations calendar schedules third-quarter 2026 financial results for October 21, 2026 at 10:05 p.m. CET, according to SAP. The company is in a quiet period before that disclosure, which places greater emphasis on the backlog, cloud growth and the analyst target in the interim.

Stock remains below its yearly high

SAP had a market capitalization of EUR 216.7 billion as of October 7, 2026. The Lang & Schwarz quote was EUR 56.31 below the 52-week high of EUR 244.30, while the daily gain of 0.42 percent kept the session move below the threshold for a directional headline.

Price source: Lang & Schwarz, October 7, 2026 at 10:35 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of SAP stock.