SAP stock fell 1.51 percent as cloud growth stayed strong

Published on 10/03/2026 at 21:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

SAP stock traded at EUR 183.92 on Xetra at 5:39 p.m. CET on October 2, 2026, with 1,469,523 shares changing hands. Q2 cloud revenue rose 22 percent.

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SAP stock (ISIN DE0007164600) fell 1.51 percent to EUR 183.92 on Xetra at 5:39 p.m. CET on October 2, 2026, with 1,469,523 shares traded. The move came as investors weighed SAP's cloud expansion against the valuation of its software business.

Cloud revenue rises 22 percent

In its Q2 and half-year 2026 update dated July 23, 2026, SAP reported cloud revenue growth of 22 percent, or 24 percent at constant currencies. Total revenue increased 9 percent, while IFRS operating profit rose 8 percent.

The operating trend is concentrated in the cloud transition. Cloud ERP Suite revenue grew 25 percent, giving the group a faster-growing core than its total business and providing a measurable counterweight to the share price decline on October 2, 2026.

Backlog expands 27 percent

SAP's current cloud backlog reached EUR 22.9 billion in Q2 2026, up 27 percent, or 26 percent at constant currencies, according to the company's July 23, 2026 results update. That backlog gives investors a forward indicator for cloud demand, although it does not equal recognized revenue.

MarketBeat reported on October 3, 2026, that SAP's NYSE-listed shares traded as high as USD 210.31 and moved above a 200-day moving average of USD 182.36. The report also cited a Moderate Buy consensus and a USD 256.29 consensus target for the NYSE-listed shares, adding a separate US-market reference to the Xetra move.

SAP stock stays below recent peak

The Xetra snapshot places SAP stock at EUR 183.92 with a daily change of minus 1.51 percent on October 2, 2026. The combination of 22 percent cloud revenue growth and 27 percent backlog growth leaves execution in the cloud business as the central measure for the next results update.