Aug. 31 at 8:42 PM
$SAP
SAP looks increasingly mispriced at current levels. With €22.9B in current cloud backlog, more than 12,000 RISE with SAP contracts and thousands of major ECC customers facing migration decisions before 2027, the company is entering one of its strongest structural growth phases in years. The key upside is not just S/4HANA migration, but cross-selling SuccessFactors, Business Data Cloud and Joule AI across the installed base.
At around €190, SAP still trades far below its previous highs despite stronger recurring cloud revenue, improving margins and rising cash generation. If management executes well and converts the migration wave into broader ecosystem adoption, I believe €250–270 is achievable over time. That would represent a meaningful re-rating from current levels.
Watching:
$MSFT $ORCL $CRM $ADBE
https://www.boerse-express.com/news/articles/sap-aktie-ich-lande-nah-am-konsens-und-misstraue-seiner-begruendung-943627