SAP, DE0007164600

SAP stock falls as cloud growth meets profit taking

Published on 09/03/2026 at 08:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

SAP stock eased after a recent run-up, with Xetra trading at EUR 183.52 on September 1, 2026. Q2 2026 cloud backlog rose 26 percent to EUR 22.9 billion, and cloud revenue grew 24 percent in constant currency.

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SAP (ISIN DE0007164600) stock closed at EUR 183.52 on Xetra on September 1, 2026, down 3.4 percent on the day. The move came after a sharp rally, while Q2 2026 cloud backlog rose 26 percent to EUR 22.9 billion and cloud revenue increased 24 percent in constant currency.

Cloud backlog stays central

In Q2 fiscal 2026, SAP's cloud backlog growth outpaced cloud revenue growth, a mix that points to still-strong contract visibility. For investors, the key point is the gap between the two numbers: 26 percent for backlog versus 24 percent for revenue in the same period.

The latest market snapshot also puts SAP on a large valuation base. MarketBeat listed a market capitalization of USD 257.56 billion, a P/E ratio of 26.34 and a 52-week range of USD 144.97 to USD 281.36 on September 3, 2026.

Price and valuation

MarketBeat showed SAP at USD 209.66 in New York trading, down 1.12 percent, with volume of 1.51 million shares and average volume of 3.15 million shares. The same page listed a consensus rating of Moderate Buy and an average price target of USD 264.83.

Go deeper

SAP cloud backlog and stock data

SAP's Q2 2026 cloud numbers and the latest price snapshot show why the stock is being measured against execution rather than narrative.

SAP S/4HANA Cloud

SAP S/4HANA Cloud remains the clearest product link to that backlog, because it sits at the center of the company's enterprise resource planning push. The product matters now because recurring cloud subscriptions help translate the Q2 2026 backlog into future revenue.

Market level and venue

SAP stock traded at USD 209.66 on MarketBeat on September 3, 2026, with a reported market capitalization of USD 257.56 billion and a 52-week range of USD 144.97 to USD 281.36. On Xetra, the same stock closed at EUR 183.52 on September 1, 2026.

SAP stock key data

  • Company: SAP SE
  • ISIN: DE0007164600
  • WKN: 716460
  • Ticker: SAP
  • Trading venue: Xetra and NYSE
  • Price (as of September 1, 2026): EUR 183.52
  • Market capitalization: USD 257.56 billion (as of September 3, 2026)
  • Sector / Industry: Software / Application Software
  • Index membership: DAX
  • Next earnings date: October 21, 2026

Disclaimer...

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