SAP stock trades at EUR 184.52 with a 27.3 P/ E

Published on 10/08/2026 at 16:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cloud backlog hit EUR 22.90 billion in second-quarter 2026, up 27.00 percent. SAP stock trades at EUR 184.52 on October 8, 2026 versus EUR 187.46.

Key points in brief

SAP stock was trading at EUR 184.52 at Lang & Schwarz on October 8, 2026 at 4:42 p.m. CEST, down 1.57 percent from EUR 187.46.
The price-to-earnings ratio stood at 27.3 in the October 8 market quote.
Cloud backlog reached EUR 22.90 billion in the second quarter of 2026, up 27.00 percent.
SAP is scheduled to publish third-quarter 2026 results on October 21, 2026.
Goldman raised its SAP target from EUR 215.00 to EUR 230.00 on October 6, 2026.

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SAP (DE0007164600) was trading at EUR 184.52 at Lang & Schwarz on October 8, 2026 at 4:42 p.m. CEST, down 1.57 percent versus the prior close of EUR 187.46. Its price-to-earnings ratio stood at 27.3 in the October 8, 2026 market quote, giving the current price a clear valuation marker without turning it into a forecast.

Cloud backlog sets the operating benchmark

According to SAP in its July 23, 2026 investor update, cloud backlog reached EUR 22.90 billion in the second quarter of 2026, up 27.00 percent. Cloud revenue increased 22.00 percent in the same quarter, while total revenue grew 9.00 percent.

The backlog figure is the most useful operating comparison for the stock because it captures contracted cloud demand rather than only revenue already recognized. SAP also reported that cloud ERP Suite revenue rose 25.00 percent in the second quarter of 2026, placing the fastest-growing product area above overall cloud growth.

Analyst target sits above the quote

Goldman raised its SAP price target from EUR 215.00 to EUR 230.00 on October 6, 2026, while keeping a Buy rating, according to Goldesel. The EUR 230.00 target lies 24.65 percent above the EUR 184.52 Lang & Schwarz price, using the target-to-price comparison.

The October 8 quote also showed 634,566 shares traded against an average volume of 2,579,740 shares. That comparison places the session volume at 24.60 percent of the stated average, a useful measure of participation alongside the daily decline.

Comparison with peers

As of October 8, 2026:

SAP: minus 1.67 percent, P/E 27.28, market capitalization USD 240.8 billion.
Oracle: minus 1.55 percent, P/E 22.19, market capitalization USD 407.1 billion.
Salesforce: minus 0.58 percent, P/E 20.40, market capitalization USD 182.8 billion.

Results date is October 21

According to SAP, third-quarter 2026 results are scheduled for October 21, 2026 at 10:05 p.m. CET, followed by the analyst and investor conference call at 11:00 p.m. CET. The date gives the market a defined checkpoint for testing whether the second-quarter cloud backlog growth is translating into the next reported period.

Trading level remains the key reference

The SAP quote combines a EUR 184.52 intraday price with a EUR 187.46 prior close and a 27.3 price-to-earnings ratio. The next reported operating comparison will be the third-quarter 2026 result on October 21, 2026, with cloud demand and revenue conversion likely to be the measurable reference points.

The further course of trading is shown by the continuously updated real-time quote of SAP stock.