SAP stock: BMO Capital lifts target for SAP stock from USD 177.00 to USD 235.00

Published on 10/20/2026 at 16:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cloud revenue rose 22.44 percent to EUR 6.28 billion in quarter two. SAP stock costs EUR 202.40 on October 20, 2026, up 0.64 percent versus Xetra.

Analyst target and cloud growth

BMO Capital raised its SAP target from USD 177.00 to USD 235.00 on October 8, 2026.
Second-quarter cloud revenue increased 22.44 percent year over year to EUR 6.28 billion.
SAP stock costs EUR 202.40 at Lang & Schwarz on October 20, 2026 at 4:10 p.m. CEST, 0.64 percent above the Xetra close of October 19, 2026.
Third-quarter results are scheduled for October 21, 2026 at 10:05 p.m. CEST.

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SAP stock is at EUR 202.40 at Lang & Schwarz on October 20, 2026 at 4:10 p.m. CEST, up 0.64 percent versus the Xetra close of October 19, 2026. On October 8, 2026, BMO Capital analyst Keith Bachman raised the firm’s target for SAP from USD 177.00 to USD 235.00 and kept an Outperform rating, according to Markets Insider. The USD 235.00 target is 3.58 percent above SAP’s US-listed price of USD 226.87 at 10:24 a.m. ET on October 20, 2026.

Cloud growth supplies the counterweight

SAP’s second-quarter cloud revenue reached EUR 6.28 billion, up 22.44 percent from EUR 5.13 billion a year earlier. The figures come from Yahoo Finance, which also reported current cloud backlog of EUR 22.93 billion for the second quarter. Cloud backlog is contracted business that SAP has not yet recognized as revenue, so it provides visibility rather than an equivalent period of sales.

Stock remains below its yearly high

The EUR 202.40 quotation sits 17.15 percent below SAP’s 52-week high of EUR 244.30 and above the 52-week low of EUR 127.50. SAP’s market capitalization was EUR 233.3 billion, with a price-to-earnings ratio of 29.65, based on the October 20, 2026 market snapshot. The latest euro quotation is 0.64 percent above the EUR 199.84 Xetra close from October 19, 2026.

Results date sets the next test

SAP’s investor-relations calendar schedules third-quarter 2026 results for October 21, 2026 at 10:05 p.m. CEST, followed by an analyst conference call at 11:00 p.m. CEST, according to SAP. The report will put the 22.44 percent second-quarter cloud growth and the EUR 22.93 billion cloud backlog into a fresh operating-period context. For investors, the key comparison is whether cloud expansion continues while the company converts contracted demand into recognized revenue.

Valuation leaves little room for drift

The current valuation combines a EUR 233.3 billion market capitalization with a price-to-earnings ratio of 29.65. That multiple places greater weight on execution in the upcoming report, while the BMO Capital target provides a separate USD benchmark rather than a euro price forecast.

Trading stays above the Xetra close

SAP stock was trading at EUR 202.40 at Lang & Schwarz on October 20, 2026 at 4:10 p.m. CEST, 0.64 percent above the Xetra close of October 19, 2026 at EUR 199.84. The further course of trading is shown by the continuously updated real-time quote of SAP stock.