On the way up again: SAP shares are at a 12-month high.
(Photo: imago/Chris Emil Janssen)
Dusseldorf The economic uncertainty seems to have little effect on SAP at the moment. Thanks to “high growth dynamics in the cloud business”, sales and profits have increased significantly, said board spokesman Christian Klein with some pride when the quarterly figures were published.
It should be a satisfaction for the 42-year-old manager: After the strategic realignment in October 2021, there were many doubts about the software manufacturer and its management. This was also shown by the share price, which developed significantly worse than that of the competition.
Optimism is now returning to the stock market. At around 123 euros, the SAP paper is currently back at the level it was at the end of 2021, and analysts see potential for further price gains.
Since the cloud business continues to develop well, there is room for maneuver in the medium-term growth targets, argues Mohammed Moawalla from Goldman Sachs, who has set a target price of EUR 150.
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