SAP stock carries 22 percent cloud growth into October results
Published on 09/29/2026 at 15:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
SAP stock (ISIN US8030542042) was trading at EUR 184.50 at Lang & Schwarz on September 29, 2026 at 2:41 p.m. CEST, up 0.54 percent versus the prior close of EUR 183.50. The company enters its next reporting checkpoint with Q2 cloud revenue up 22 percent and current cloud backlog up 27 percent, according to SAP.
Cloud growth leads the story
SAP's Q2 2026 cloud revenue reached EUR 6.3 billion after rising 22 percent, while current cloud backlog reached EUR 22.9 billion after increasing 27 percent, the company said in its July 23, 2026 results. The comparison is important because backlog growth exceeded cloud revenue growth by 5 percentage points, strengthening the forward revenue visibility that investors will test in the next quarter.
Total revenue rose 9 percent to EUR 9.9 billion in Q2 2026, while IFRS operating profit increased 8 percent to EUR 2.6 billion. SAP also reported that cloud ERP Suite revenue rose 25 percent, giving the quarter a clear shift toward the company's cloud portfolio.
Analyst target stays above the quote
MarketScreener reported on September 18, 2026 that Berenberg maintained its Buy rating and EUR 205.00 price target, following the analyst note dated September 17, 2026. The target stands 11.11 percent above the Lang & Schwarz price of EUR 184.50, leaving the analyst view focused on whether cloud demand can offset the investment burden from recent acquisitions.
SAP's investor-relations calendar lists October 21, 2026 for Q3 2026 financial results. The company has also maintained its top-line outlook while updating its operating-profit outlook for acquisition-related dilution, according to SAP.
Market value frames the next test
SAP's ADR market capitalization was USD 244.0 billion as of September 28, 2026, with a 52-week range of USD 144.97 to USD 281.37. The current euro quote therefore sits below the analyst target while the operating picture still depends on sustained cloud expansion and the delivery of the October reporting milestone.
Stock price and investor checkpoint
At Lang & Schwarz, SAP stock was trading at EUR 184.50 on September 29, 2026 at 2:41 p.m. CEST, plus 0.54 percent versus the prior close of EUR 183.50. The next dated company event is the Q3 2026 results release on October 21, 2026.
SAP stock facts
- Company: SAP SE
- ISIN: US8030542042
- Ticker: SAP
- Primary exchange: NYSE
- Price Lang & Schwarz (as of September 29, 2026, 2:41 p.m. CEST): EUR 184.50
- Change versus prior close: plus 0.54 percent
- Prior close Lang & Schwarz (September 28, 2026): EUR 183.50
- Market capitalization: USD 244.0 billion (as of September 28, 2026)
- 52-week range: USD 144.97-281.37 (as of September 28, 2026)
- Sector / Industry: Technology / Software - Application
- Next earnings date: October 21, 2026
