SAP (SAP) Stock Forecast & Price Target

Q: What analysts cover SAP?

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

$214.71 -0.40 (-0.19%)

As of 09/4/2026 03:58 PM Eastern

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

Consensus Rating

Moderate Buy

Based on 22 Analyst Ratings

Sell
0

Hold
8

Buy
14

Based on 22 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 22 analysts, 8 have given a hold rating, 13 have given a buy rating, and 1 has given a strong buy rating for SAP.

Consensus Price Target

$264.83
23.34% Upside

According to the 22 analysts' twelve-month price targets for SAP, the average price target is $264.83. 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 23.34% from the current price of $214.71.

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 9/7/25 to 9/7/26	1 Month Ago 8/8/25 to 8/8/26	3 Months Ago 6/9/25 to 6/9/26	1 Year Ago 9/7/24 to 9/7/25
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)	11 Buy rating(s)	11 Buy rating(s)	11 Buy rating(s)
Hold	8 Hold rating(s)	9 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	$264.83	$264.83	$288.00	$281.67
Forecasted Upside	23.34% Upside	28.48% Upside	60.92% Upside	4.70% 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	2.68	2.23	2.53
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	23.34% Upside	411.75% Upside	14.03% 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
8/27/2026	Citigroup 4 of 5 stars		Reiterated Rating	Buy
8/26/2026	UBS Group 4 of 5 stars	Michael Briest Not Rated	Downgrade	Buy ➝ Neutral
8/21/2026	Morgan Stanley 3 of 5 stars		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
7/24/2026	Jefferies Financial Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Strong-Buy ➝ Hold
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%
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.
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
10/24/2025	Argus Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Joseph Bonner Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Buy	$320.00	+17.83%
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 Monday at 03:27 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 Friday, September 4, 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 is trading at $214.71, which is significantly below the consensus price target of $264.83, suggesting substantial upside potential for investors who believe the market is currently undervaluing the company's long-term growth trajectory.
The company demonstrated strong fundamental performance in its most recent quarter with revenue of $11.27 billion, representing a 9.4% year-over-year increase, and maintaining a healthy net margin of 20.88%, indicating robust operational efficiency and profitability.
Wall Street maintains a "Moderate Buy" consensus rating on the stock, with analysts like Goldman Sachs and Citigroup reiterating "Buy" ratings, reflecting institutional confidence in SAP SE's position as a dominant enterprise software provider despite recent volatility.
Short interest in SAP SE has decreased to 8,024,204 shares as of August 2026, a drop from over 11 million shares in mid-July, which often signals that short sellers are covering their positions and may contribute to upward price pressure.
SAP SE is actively expanding its AI capabilities through strategic acquisitions and partnerships, such as its collaboration with SK AX to redesign enterprise workflows, positioning the company to capture value from the growing demand for AI-integrated business solutions.

SAP
Bear Case

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

UBS downgraded SAP SE from "Buy" to "Neutral" in late August 2026, citing concerns that the company's rollout of artificial intelligence-based tools is slower than expected, which may delay the monetization of its AI investments.
The stock experienced a significant gap down of 8.35% on August 26, 2026, following the UBS downgrade, indicating heightened market sensitivity to execution risks and potential volatility for investors holding the position.
SAP SE missed its earnings per share consensus estimate in the most recent quarter, reporting $1.82 EPS against an expected $2.00, which may raise concerns about the company's ability to meet aggressive growth targets in a competitive landscape.
The company's P/E ratio of 26.97 is relatively high compared to some traditional software peers, suggesting that investors are paying a premium for growth that may not be immediately realized if AI adoption slows or margins compress.
Several institutional investors, including Natural Investments LLC and Quantitative Investment Management LLC, have recently reduced their stakes in SAP SE, which could indicate a lack of confidence among certain large holders regarding the stock's near-term performance.

SAP Forecast - Frequently Asked Questions

According to the research reports of 22 Wall Street equities research analysts, the average twelve-month stock price forecast for SAP is $264.83, with a high forecast of $375.00 and a low forecast of $177.00.

22 Wall Street analysts have issued "buy," "hold," and "sell" ratings for SAP in the last year. There are currently 8 hold ratings, 13 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" SAP shares.

According to analysts, SAP's stock has a predicted upside of 23.34% based on their 12-month stock forecasts.

Over the previous 90 days, SAP's stock had 4 downgrades and 2 upgrades by analysts.

SAP has been rated by research analysts at Barclays, BMO Capital Markets, Citigroup, Jefferies Financial Group, Morgan Stanley, Oppenheimer, TD Cowen, The Goldman Sachs Group, 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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MarketBeat monitors more than a dozen sources for SAP analyst ratings, with the most recent rating issued on 8/27/2026.

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SAP (SAP) Stock Forecast & Price Target