SAP (SAP) Stock Forecast & Price Target

Q: What analysts cover SAP?

SAP has been rated by research analysts at Argus , Barclays , BMO Capital Markets , Citigroup , Jefferies Financial Group , Morgan Stanley , Oppenheimer , TD Cowen , UBS Group , Weiss Ratings , and Wells Fargo & Company in the past 90 days.

$210.80 +1.69 (+0.81%)

Closing price 09/25/2026 03:59 PM Eastern

Extended Trading

$210.00 -0.80 (-0.38%)

As of 09/25/2026 07:31 PM Eastern

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SAP - Analysts' Recommendations and Stock Price Forecast (2026)

Consensus Rating

Moderate Buy

Based on 21 Analyst Ratings

Sell
0

Hold
7

Buy
14

Based on 21 Wall Street analysts who have issued ratings for SAP in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 21 analysts, 7 have given a hold rating, 13 have given a buy rating, and 1 has given a strong buy rating for SAP.

Consensus Price Target

$256.29
21.58% Upside

According to the 21 analysts' twelve-month price targets for SAP, the average price target is $256.29. The highest price target for SAP is $375.00, while the lowest price target for SAP is $177.00. The average price target represents a forecasted upside of 21.58% from the current price of $210.80.

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

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SAP Analyst Ratings Over Time

Type	Current Forecast 9/27/25 to 9/27/26	1 Month Ago 8/28/25 to 8/28/26	3 Months Ago 6/29/25 to 6/29/26	1 Year Ago 9/27/24 to 9/27/25
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	13 Buy rating(s)	13 Buy rating(s)	12 Buy rating(s)	13 Buy rating(s)
Hold	7 Hold rating(s)	8 Hold rating(s)	7 Hold rating(s)	1 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$256.29	$264.83	$283.40	$281.67
Forecasted Upside	21.58% Upside	19.40% Upside	82.63% Upside	6.54% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Buy

SAP Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

SAP Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

SAP Stock vs. The Competition

Type	SAP	Technology Companies	Broader Market
Consensus Rating Score	2.71	2.23	2.53
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	21.58% Upside	370.53% Upside	19.20% Upside
News Sentiment Rating	Positive News See Recent SAP News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

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Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
9/22/2026	Jefferies Financial Group 3 of 5 stars		Reiterated Rating	Buy	$260.00	+23.34%
9/22/2026	Citigroup 4 of 5 stars		Reiterated Rating	Buy
9/10/2026	Argus 3 of 5 stars	Joseph Bonner Not Rated	Set Target		$265.00	+28.23%
8/26/2026	UBS Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Michael Briest Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade	Buy ➝ Neutral
8/21/2026	Morgan Stanley Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Overweight
8/12/2026	Wells Fargo & Company Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Overweight
7/30/2026	Weiss Ratings Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Hold (C-) ➝ Hold (C)
7/27/2026	Barclays Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Raimo Lenschow Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Overweight	$255.00 ➝ $242.00	+51.28%
7/24/2026	TD Cowen Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Derrick Wood Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Buy
7/24/2026	Oppenheimer Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Market Perform
Get the Latest News and Ratings for SAP and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for SAP and its competitors with MarketBeat's FREE daily newsletter.
7/24/2026	BMO Capital Markets Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Keith Bachman Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$175.00 ➝ $177.00	+21.03%
6/10/2026	The Goldman Sachs Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Buy	$265.00	+48.07%
4/24/2026	Santander Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Neutral ➝ Outperform
4/22/2026	HSBC Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Hold ➝ Buy
4/14/2026	Piper Sandler Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Overweight ➝ Neutral
3/24/2026	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Toby Ogg Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Overweight ➝ Neutral
3/5/2026	Zacks Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Strong-Buy ➝ Hold
1/30/2026	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Buy
1/30/2026	Citizens Jmp Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Outperform ➝ Market Perform
12/11/2025	Arete Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Strong-Buy
10/23/2025	KeyCorp Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Overweight
9/24/2025	Oddo Bhf Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Neutral ➝ Outperform
8/14/2025	Erste Group Bank Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Buy ➝ Hold
1/30/2025	Royal Bank Of Canada Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Irene Nattel Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Outperform	$38.00 ➝ $38.00	-86.39%
1/15/2025	Kepler Capital Markets Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Hold ➝ Buy

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 05:48 PM ET.

Should I Buy SAP Stock? SAP Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Saturday, September 26, 2026. Please send any questions or comments about these SAP pros and cons to contact@marketbeat.com.

SAP
Bull Case

Here are some ways that investors could benefit from investing in SAP SE:

SAP SE shares are currently trading at $210.80, which is significantly below the average analyst price target of $256.29, suggesting substantial upside potential for investors who believe the market is undervaluing the company's long-term growth trajectory.
The company demonstrated strong operational momentum in the second quarter of 2026, with cloud revenue surging 24% year-over-year, driven by rapid ERP migrations and the adoption of new AI agents that are strengthening its core growth strategy.
Wall Street maintains a positive outlook on the stock, with a consensus rating of "Moderate Buy" and recent upgrades, such as Jefferies Financial Group raising its rating to "strong-buy" in late September 2026, indicating institutional confidence in the company's direction.
Short interest in SAP SE has decreased significantly over the past few months, dropping from over 11 million shares in mid-July to approximately 5 million shares by late August 2026, which often signals that bearish traders are exiting positions and reducing downward pressure on the stock price.
Institutional investors are increasing their exposure to the company, as evidenced by QRG Capital Management Inc. raising its stake by 12.0% in the second quarter of 2026, reflecting broader confidence among professional money managers in SAP's business fundamentals.

SAP
Bear Case

Investors should be bearish about investing in SAP SE for these reasons:

SAP SE missed its earnings expectations in the most recent quarter, reporting $1.82 in earnings per share against a consensus estimate of $2.00, which may raise concerns about the company's ability to meet near-term profitability targets.
Some analysts are becoming more cautious about future earnings, with Erste Group Bank reducing its full-year 2026 earnings estimate to $8.10 per share in September 2026, signaling a potential slowdown in the pace of earnings growth.
The stock has experienced significant volatility and recently hit a 52-week low of $144.97 in July 2026, indicating that the shares have faced substantial downward pressure and may still be in a corrective phase despite recent recovery.
SAP SE is facing legal and operational challenges in key markets, such as the Delhi High Court ordering the company to restore critical software support services for Nayara Energy, which highlights the risks associated with navigating complex international regulatory and contractual environments.
The company's valuation remains relatively high with a P/E ratio of 26.48, which may limit the margin of safety for investors if growth in cloud revenue or AI adoption does not accelerate as expected to justify the premium pricing.

SAP Forecast - Frequently Asked Questions

According to the research reports of 21 Wall Street equities research analysts, the average twelve-month stock price forecast for SAP is $256.29, with a high forecast of $375.00 and a low forecast of $177.00.

21 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for SAP in the last twelve months. There are currently 7 hold ratings, 13 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" SAP shares.

According to analysts, SAP's stock has a predicted upside of 21.58% based on their 12-month stock forecasts.

Over the previous 90 days, SAP's stock had 3 downgrades and 2 upgrades by analysts.

SAP has been rated by research analysts at Argus, Barclays, BMO Capital Markets, Citigroup, Jefferies Financial Group, Morgan Stanley, Oppenheimer, TD Cowen, UBS Group, Weiss Ratings, and Wells Fargo & Company in the past 90 days.

Analysts like SAP more than other "technology" companies. The consensus rating for SAP is Moderate Buy while the average consensus rating for "technology" companies is Hold. Learn more on how SAP compares to other companies.

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Brokerages With SAP Recommendations

MarketBeat monitors more than a dozen sources for SAP analyst ratings, with the most recent rating issued on 9/22/2026.

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SAP (SAP) Stock Forecast & Price Target