SAP's AI Assistants Go Live as BMO Lifts Target to $235
Published on 10/09/2026 at 12:40 | Editorial boerse-global.de
SAP used its SAP Connect conference stage to unveil a refreshed user interface, Joule Work, alongside a set of new assistants that the Walldorf-based software group says will reach customers before October is out. The rollout marks the latest step in the company's effort to broaden what its portfolio actually does for the people using it day to day.
Adoption figures suggest the technology is already embedded in a meaningful slice of the customer base: 110,000 employees are working with Joule, and SAP puts the productivity gains in its core human resources, finance and procurement units at more than 20 percent.
Partner Network Widens Across Procurement and Risk
Management paired the product news with a deliberate expansion of its alliance roster. A tie-up with Moody's is designed to give customers sharper visibility into supply-chain risk, while a deeper collaboration with ORO Labs targets the automation of procurement orchestration.
SAP Pay rounds out the functional push, bringing payment execution directly inside cloud ERP applications with automated reconciliation. Developed together with Tereina, the offering aims to compress operational workflows and remove the manual handoffs that traditionally sit between ERP systems and payment providers.
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BMO's Bullish Call Lands Mid-Week
The strategic initiatives drew a constructive response from the analyst community. BMO Capital raised its price target on the stock from 177 to 235 US dollars on Tuesday, keeping an "Outperform" rating on the shares. The broker's reasoning centers on expected growth in the cloud business.
Feedback on Joule has turned more favorable, according to media reports, and the steady migration of customers to the cloud underpins the outlook. On that basis, the analysts see modest upside potential in revenue from cloud and software. The stock traded at 192.32 euros on Friday, up 1.8 percent on the day.
TechWolf Deal Awaits Regulatory Green Light
SAP intends to fold additional technology into its own stack through acquisition. The agreed purchase of Belgian firm TechWolf is aimed at integrating its work analytics platform into SAP SuccessFactors, the company's HR solution. Completion depends on regulatory approvals and is targeted for the fourth quarter of 2026. Financial terms were not disclosed.
The company's existing AI tools are already finding their way into customer operations, with Novartis, Nestlé, Morgan Foods and PwC among those embedding the intelligent functions into their business processes. SAP also used the conference to present the SAP Business AI Platform for the autonomous enterprise.
Buyback Keeps a Floor Under the Share Count
A running share repurchase program continues to accompany the strategic agenda. A recent mandatory disclosure showed the group bought back a further 50,000 of its own shares via XETRA between September 28 and October 2, bringing the cumulative volume under this program to 8,945,886 shares as of October 2. The steady purchases support the supply side of the equity while the market waits for detailed quarterly figures.
Those figures arrive soon. SAP publishes its third-quarter 2026 results on October 21 at 22:05, with an analyst and investor call scheduled for 23:00. The numbers should show how strongly the new technologies are flowing through to the financial statements — a question that carries weight given the stock's 9.8 percent decline since the start of the year.
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