100/100BSAP stock forecast 2026–2030What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for SAP is 341.14, 45.2% above the current price of 235.01. Their targets range from 235.00 to 800.00.
Of the 5 firms that rated SAP in the past 12 months, 4 rate it buy or strong buy, 1 hold and 0 sell or strong sell (each firm at its latest rating): a Strong buy consensus.
Analysts' 1-year price targets range from 235.00 to 800.00, with an average of 341.14.
| Buy | 4 | |
| Hold | 1 | |
| Sell | 0 |
12-month price target
| Highest target | 800.00 |
| Average target | 341.14 |
| Lowest target | 235.00 |
| Current price | 235.01 |
SAP price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their SAP price target and rating?
How analysts rate SAP, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
4 of 5 firms rate it buy now, against 5 of 5 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
SAP analyst upgrades, downgrades and price targets
The latest rating change came on 9 November 2026, when JP Morgan upgraded SAP from Neutral to Overweight. The most recent new target came from Barclays on 23 October 2026: 288.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 9 Nov 2026 | JP Morgan | Upgraded · Neutral → Overweight | — | — | — |
| 23 Oct 2026 | Barclays Raimo Lenschow | Reiterated · Overweight | 243.00 → 288.00 | +18.5% | 240.59 |
| 22 Oct 2026 | D.A. Davidson Gil Luria | — | 800.00 | — | 242.45 |
| 22 Oct 2026 | TD Cowen | — | 250.00 → 275.00 | +10.0% | 240.59 |
| 15 Oct 2026 | TD Cowen Derrick Wood | — | 250.00 | — | 225.00 |
| 13 Oct 2026 | Barclays Raimo Lenschow | Reiterated · Overweight | 242.00 → 243.00 | +0.4% | 217.85 |
| 8 Oct 2026 | BMO Capital Keith Bachman | Reiterated · Outperform | 177.00 → 235.00 | +32.8% | 210.49 |
| 22 Sept 2026 | Jefferies | — | 260.00 | — | 210.74 |
| 10 Sept 2026 | Argus Research Joseph Bonner | — | 265.00 | — | 206.33 |
| 26 Aug 2026 | UBS | Downgraded · Buy → Neutral | — | — | — |
| 27 Jul 2026 | Barclays | Reiterated · Overweight | 255.00 → 242.00 | -5.1% | 160.00 |
| 24 Jul 2026 | BMO Capital | Reiterated · Outperform | 200.00 → 177.00 | -11.5% | 146.38 |
| 21 Jul 2026 | Barclays | Reiterated · Overweight | 257.00 → 255.00 | -0.8% | 158.35 |
| 10 Jun 2026 | Goldman Sachs Mohammed Moawalla | — | 265.00 | — | 178.92 |
| 27 Apr 2026 | Barclays Raimo Lenschow | Reiterated · Overweight | 256.00 → 257.00 | +0.4% | 175.23 |
| 24 Apr 2026 | BMO Capital | Reiterated · Outperform | 245.00 → 200.00 | -18.4% | 173.56 |
| 20 Apr 2026 | Barclays | — | 283.00 → 256.00 | -9.5% | 179.46 |
| 24 Mar 2026 | JP Morgan | Downgraded · Overweight → Neutral | — | — | — |
| 2 Feb 2026 | Barclays | — | 283.00 | — | 201.04 |
| 30 Jan 2026 | BMO Capital | — | 320.00 → 245.00 | -23.4% | 202.32 |
| 4 Dec 2025 | Arete Research Rocco Strauss | — | 718.00 | — | 243.82 |
SAP EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect SAP's EPS to grow 16.3% a year until 2028. Over the last 5 years it grew 7.5% a year, and over the last 3 years 47.4%.
Analysts expect SAP's revenue to grow 11.4% a year until 2028, faster than over the last 5 years (6.1% a year) and the last 3 years (7.6%).
Revenue
EPS
Does SAP beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 7.2% off the result, either way, and their revenue estimate 1.2%, over the last 12 quarters.
- EPS beats
- 70 / 119
- Revenue beats
- 71 / 111
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- -0.4%
- Since
- August 1997
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 21 Oct 2026 | 2.03 | 2.18 | +7.4% | 11.38B | 11.50B | +1.0% |
| Q2 FY2026 | 23 Jul 2026 | 2.00 | 1.85 | -7.5% | 11.30B | 11.24B | -0.5% |
| Q1 FY2026 | 23 Apr 2026 | 1.92 | 2.01 | +4.7% | 11.19B | 11.19B | -0.1% |
| Q4 FY2025 | 29 Jan 2026 | 1.77 | 1.89 | +6.8% | 11.39B | 11.55B | +1.4% |
| Q3 FY2025 | 22 Oct 2025 | 1.74 | 1.86 | +6.9% | 10.62B | 10.54B | -0.7% |
| Q2 FY2025 | 22 Jul 2025 | 1.63 | 1.70 | +4.3% | 10.52B | 10.59B | +0.7% |
| Q1 FY2025 | 22 Apr 2025 | 1.39 | 1.51 | +8.6% | 9.99B | 10.23B | +2.4% |
| Q4 FY2024 | 28 Jan 2025 | 1.51 | 1.46 | -3.3% | 9.45B | 9.78B | +3.5% |
| Q3 FY2024 | 21 Oct 2024 | 1.31 | 1.33 | +1.5% | 9.25B | 9.16B | -1.0% |
| Q2 FY2024 | 22 Jul 2024 | 1.09 | 1.10 | +0.9% | 8.92B | 8.99B | +0.7% |
| Q1 FY2024 | 22 Apr 2024 | 1.07 | 0.81 | -24.3% | 8.61B | 8.60B | -0.1% |
| Q4 FY2023 | 23 Jan 2024 | 1.58 | 1.41 | -10.8% | 9.02B | 9.23B | +2.3% |
SAP stock price 2026–2030: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If SAP's earnings grow at the 15.9% a year analysts expect to FY2028, then 15.0% a year, it would earn about 14.32 a share in FY2030. At the P/E it has traded at over the last five years (26.7 to 49.2) that is 383.04 to 704.27 a share, or 475.55 at its average P/E of 33.2. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2026 | 7.82 | 209.23 | 259.76 | 384.70 |
| FY2027 | 9.21 | 246.23 | 305.70 | 452.73 |
| FY2028 | 10.83 | 289.63 | 359.58 | 532.53 |
| FY2029 (extrapolated) | 12.46 | 333.08 | 413.52 | 612.41 |
| FY2030 (extrapolated) | 14.32 | 383.04 | 475.55 | 704.27 |
Each year's EPS is the analysts' consensus to FY2028; the years after grow 15.0% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (26.7, 33.2, 49.2).
Is SAP stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
SAP's P/E of 30.1 is around the middle of its 5-year range (19.1 to 106.1, median 33.1). It is in line with its own history. Buyers pay less for each point of growth than usual: a PEG of 1.8 on expected growth against 4.4 on its median P/E and past five years' growth. At its usual P/E (29.6 × EPS of 7.79), SAP's fair value is 230.96, close to the price of 235.01. Its forward P/E, on the consensus for FY2026, is 30.0.
Fair value is the usual (median) P/E of the last five years times the earnings per share of the last twelve months; the ends of the bar are the same earnings at its lowest and highest P/E of those years (19.1 and 55.7). The price against its P/E range
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 30.15
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 33.09
- Five-year P/E range
- 19.1 – 106.1
- Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 30.04
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 1.90
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- +45.2%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 35.760 | 71.4258Price 35.76193 | +99.7% | |
| 29.080 | 56.2434Price 29.0896 | +93.4% | |
| 240.360 | 464.26205Price 240.36627 | +93.2% | |
| 202.040 | 384.58163Price 202.042,644 | +90.3% | |
| 161.340 | 305.52160Price 161.34396 | +89.4% | |
| 125.395 | 237.44178Price 125.40297 | +89.4% | |
| 159.580 | 300.48225Price 159.58376 | +88.3% |
Furthest below the fair value on each stock's page, updated every day.