SAP stock forecast: Q4 results and €10bn buyback
SAP SE is a Germany-based enterprise software company. Markets are assessing its 2025 results, including 8% revenue growth, a €10bn buyback plan and continued cloud and AI expansion. Explore third-party SAP price targets. Past performance is not a reliable indicator of future results. .
SAP SE (SAP) is trading around €173.30 in late European dealings at 3:55pm (UTC)on 26 February 2026, moving within an intraday range of €164.45–€173.85 on Capital.com’s feed as the stock consolidates after recent volatility in European software names. The price action leaves the share near the top of the day’s range, following a modest rebound from levels closer to €165 earlier in the session. Past performance is not a reliable indicator of future results.
The move comes as markets continue to digest SAP’s Q4 and full-year 2025 results. The company reported total revenue growth of 8% for 2025 (SAP, 29 January 2026) and announced a new two-year share buyback programme of up to €10bn (The Globe and Mail, 4 February 2026). Trading also reflects broader sector commentary pointing to more cautious enterprise software spending and a slower transition to the cloud, while reports note that SAP shares remain more than 40% below their record high from February 2025 (MarketScreener, 26 February 2026). In parallel, SAP has highlighted new AI-driven offerings, including retail-focused innovations showcased at NRF 2026, keeping attention on its strategic shift towards cloud and artificial intelligence solutions (SAP, 8 January 2026).
SAP stock forecast 2026–2030: Third-party price targets
As of 26 February 2026, third-party SAP stock predictions appear to reflect varying assumptions on cloud growth, valuation multiples and broader software-sector risk premia. The following snapshots summarise selected 12-month targets, consensus bands and associated commentary from six separate third-party sources.
Stock Analysis (analyst summary update)
Stock Analysis shows that the consensus SAP stock forecast from five analysts is around $340.75, alongside a ‘Strong Buy’ average rating on the NYSE line. The site states that this target implies potential upside from the then-current price and reflects expectations for continued revenue and earnings growth following SAP’s late-January results (Stock Analysis, 15 February 2026).
Tikr (scenario-based view)
Tikr comments that its upside scenario places SAP’s share price in the low-to-mid $300s over the next 12 months, relative to a level that had fallen about 13% over the previous 30 days. The piece frames this scenario in the context of valuation metrics compared with historical averages and sector peers, as well as SAP’s forecast revenue and earnings trajectory into 2026 (Tikr, 16 February 2026).
Fintel (Milan listing consensus recap)
Fintel reports that the average one-year target stands at approximately €252.96 per share, based on individual estimates ranging from roughly €151.50 to €330.75. The service notes that analysts revised this average after January’s guidance and share-price reaction, as they reassessed assumptions for growth and margins while maintaining a wide dispersion of views (Fintel, 26 February 2026).
Simply Wall St (post-earnings consensus)
Simply Wall St reports that, following SAP’s annual report, the average 12-month target among 30 analysts stands at €258 per share, within a range from €187 to €320. The article notes that this represents a reduction of about 6.7% from the prior consensus, as analysts trimmed revenue forecasts and valuation assumptions amid a less optimistic post-results growth outlook (Yahoo Finance, 1 February 2026).
MarketBeat (NYSE consensus snapshot)
MarketBeat states that SAP SE carries a ‘Moderate Buy’ consensus from 19 analysts on the NYSE listing, with an average 12-month price target of $322. The service aggregates broker research published over the past year, with the rating mix weighted towards buy recommendations as analysts incorporate earnings performance and sector conditions (MarketBeat, 2 February 2026).
Predictions and third-party forecasts are inherently uncertain, as they cannot fully account for unexpected market developments. Past performance is not a reliable indicator of future results.
SAP stock price: Technical overview
The SAP stock price trades around €173.30 as of 3:55 UTC on 26 February 2026. The price holds above its shortest-term moving averages, with the 10-, 20-, 50-, 100- and 200-day simple moving averages clustered near 170, 171, 190, 205 and 226 respectively. This configuration leaves the broader trend influenced by the longer-term averages, which remain above the current price.
The 14-day relative strength index (RSI) sits near 46, placing it in neutral territory. Meanwhile, an average directional index (ADX) reading around 24 indicates a developing trend, though not a strongly established one.
On the upside, traders often monitor the classic R1 pivot near 205.9. A sustained daily close above this area could bring the R2 region around 241.3 into focus as a subsequent resistance zone. On pullbacks, initial support appears near the classic pivot around 184.0, while the S1 level near 148.7 marks a lower support reference within the current pivot structure (TradingView, 26 February 2026).
This technical analysis is provided for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any instrument.
SAP share price history (2024–2026)
Over the past two years, SAP’s stock price has shifted from relatively stable trading in the €230–€280 range during much of early 2025 to a weaker profile in early 2026. After closing at €275.60 on 26 February 2025, the stock traded above €250 for much of mid-2025 before moving into the low-€200s by December 2025.
In 2026 to date, the decline has extended. The share moved from €202 at the open on 2 January 2026 to around €173.70 by 26 February 2026, including a late-January move from levels near €200 to the mid-€160s. As a result, the stock trades well below its mid-2025 highs and roughly €100 beneath its late-February 2025 close. This change in price levels highlights a reset in market positioning over the past year, alongside continued day-to-day volatility.
Past performance is not a reliable indicator of future results.
SAP (SAP): Capital.com analyst view
SAP’s share price has moved from the low-€200s at the start of 2026 to the mid-€170s by late February. This shift follows a prolonged period in 2025 when the stock frequently traded above €250 and indicates that market participants have adjusted expectations around earnings momentum, valuation and sector risk. At the same time, SAP continues to report growth in areas such as cloud and AI.
Future price developments may depend on several competing factors. Continued progress in SAP’s strategic transformation, operating performance and a more supportive macroeconomic backdrop could contribute to improved sentiment. Conversely, slower enterprise IT spending, execution risks in large-scale projects, or broader equity-market weakness could weigh on valuations. As with any individual stock, outcomes will likely reflect how these drivers evolve and how new data on revenue, margins and cash flow shapes expectations.
Capital.com’s client sentiment for SAP CFDs
As of 26 February 2026, Capital.com client positioning in SAP CFDs currently shows 96.7% of accounts holding long positions and 3.3% holding short positions, a difference of 93.4 percentage points in favour of buyers. This snapshot reflects open positions on the platform at the time of writing and can change.
Summary – SAP 2026
- As of 3:55 UTC on 26 February 2026, SAP trades near €173.30, compared with around €275 in February 2025 and the €250–€280 range seen in mid-2025.
- Technical indicators show the price below the 50-, 100- and 200-day moving averages, with RSI in neutral territory and ADX indicating a developing but not strongly established trend.
- Key variables include SAP’s cloud and AI performance, enterprise software spending patterns and broader equity-market risk appetite. These factors may influence valuation over time, alongside company-specific updates and macroeconomic conditions.
Past performance is not a reliable indicator of future results.
FAQ
Who owns the most SAP stock?
SAP SE’s largest shareholders generally comprise a mix of institutional investors, global asset managers and index-tracking funds. As a DAX-listed company with a US listing, its shares form part of major European and global equity indices, which means passive funds can hold significant positions. Founding shareholders and long-standing strategic investors may also retain stakes. Ownership levels change over time as institutions rebalance portfolios or adjust index allocations.
What is the five-year SAP share price forecast?
There is no single agreed five-year SAP stock forecast. Most publicly available analyst targets focus on 12-month horizons rather than multi-year projections. Longer-term expectations tend to depend on variables such as cloud revenue growth, operating margins, competitive positioning and global enterprise IT spending. Macroeconomic conditions, interest rates and broader equity-market valuations may also influence outcomes. Any long-term projection remains subject to uncertainty and evolving assumptions.
Is SAP a good stock to buy?
Whether SAP is considered a ‘good’ stock depends on an individual investor’s objectives, risk tolerance and time horizon. Analysts often refer to factors such as SAP’s cloud transition, AI initiatives and recurring revenue base, while also highlighting risks including competitive pressures and softer enterprise spending. Share-price volatility in recent periods shows that performance can diverge from expectations. Investors typically assess both potential returns and downside risks before making decisions. This information is provided for general educational purposes and does not constitute investment advice.
Could SAP stock go up or down?
SAP’s share price can move in either direction, influenced by company-specific developments and broader market conditions. Earnings results, guidance updates, product launches and execution of strategic initiatives may affect market expectations. At the same time, sector trends, interest-rate expectations and global economic data can shape valuation multiples. As with all equities, prices reflect changing assumptions and can respond quickly to new information.
Should I invest in SAP stock?
Deciding whether to invest in SAP shares requires careful consideration of personal financial circumstances, investment goals and tolerance for risk. Shares can provide exposure to the enterprise software sector, but they also carry market risk and company-specific uncertainty. Investors often review financial statements, analyst research and macroeconomic factors before taking a position. If unsure, some choose to seek independent financial advice tailored to their situation. Any decision to invest should be based on your own research and assessment of risk.
Can I trade SAP CFDs on Capital.com?
Yes, you can trade SAP CFDs on Capital.com. Trading share CFDs lets you speculate on price movements without owning the underlying asset and to take long or short positions. However, contracts for difference (CFDs) are traded on margin, and leverage amplifies both profits and losses. You should ensure you understand how CFD trading works, assess your risk tolerance, and recognise that losses can occur quickly.