Analysts Set Expectations for SAP’s Q2 Earnings (NYSE:SAP)

SAP SE (NYSE:SAP) – Research analysts at KeyCorp cut their Q2 2026 earnings per share (EPS) estimates for shares of SAP in a report released on Tuesday, July 7th. KeyCorp analyst J. Ader now forecasts that the software maker will earn $2.04 per share for the quarter, down from their previous estimate of $2.09. The consensus estimate for SAP’s current full-year earnings is $8.30 per share. KeyCorp also issued estimates for SAP’s Q3 2026 earnings at $2.06 EPS, Q4 2026 earnings at $2.24 EPS, FY2026 earnings at $8.28 EPS, FY2027 earnings at $9.59 EPS and FY2028 earnings at $11.52 EPS.

SAP (NYSE:SAP) last posted its quarterly earnings results on Friday, February 27th. The software maker reported $1.99 EPS for the quarter. The firm had revenue of $11.06 billion for the quarter. SAP had a net margin of 20.08% and a return on equity of 17.31%.

Other analysts also recently issued reports about the stock. Weiss Ratings raised shares of SAP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 30th. HSBC upgraded SAP from a “hold” rating to a “buy” rating in a report on Wednesday, April 22nd. TD Cowen reissued a “buy” rating on shares of SAP in a research note on Thursday, May 14th. Wall Street Zen cut SAP from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of SAP in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.40.

SAP Price Performance

Shares of SAP stock opened at $157.94 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.07 and a current ratio of 1.07. SAP has a 52-week low of $148.06 and a 52-week high of $309.73. The company has a fifty day moving average of $168.29 and a 200-day moving average of $190.21. The stock has a market capitalization of $194.03 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 1.81 and a beta of 1.14.

Hedge Funds Weigh In On SAP

Hedge funds and other institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC grew its stake in shares of SAP by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 14,728,881 shares of the software maker’s stock worth $3,577,793,000 after purchasing an additional 179,550 shares during the last quarter. Bank of America Corp DE lifted its holdings in SAP by 58.1% in the 2nd quarter. Bank of America Corp DE now owns 2,650,418 shares of the software maker’s stock worth $805,992,000 after buying an additional 973,779 shares during the period. Windacre Partnership LLC grew its position in shares of SAP by 130.9% in the 3rd quarter. Windacre Partnership LLC now owns 2,357,225 shares of the software maker’s stock worth $629,874,000 after buying an additional 1,336,325 shares during the last quarter. Northern Trust Corp increased its stake in shares of SAP by 3.2% during the third quarter. Northern Trust Corp now owns 1,560,994 shares of the software maker’s stock valued at $417,113,000 after buying an additional 49,111 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of SAP by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,200,024 shares of the software maker’s stock valued at $291,498,000 after buying an additional 83,349 shares during the period.

SAP Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a $2.9291 dividend. This is a boost from SAP’s previous annual dividend of $2.54. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a yield of 170.0%. SAP’s payout ratio is 28.78%.

Key SAP News

Here are the key news stories impacting SAP this week:

• Positive Sentiment: SAP reached a deal with EU antitrust regulators, avoiding a fine and closing a competition probe after agreeing to make switching providers and ending contracts easier. SAP averts EU antitrust fine as regulators accept offer to address competition concerns
• Positive Sentiment: The regulatory resolution could reduce legal uncertainty for SAP and make its stock more appealing to investors who were waiting for the probe to end. SAP averts an EU antitrust fine by opening up its support market
• Neutral Sentiment: Several reports say SAP is loosening ERP maintenance and support rules, which may improve customer choice but could also reshape a profitable legacy support business. SAP loosens ERP maintenance and support rules
• Neutral Sentiment: Third-party coverage suggests SAP’s move frees CIOs from expensive support arrangements, but the stock impact is likely limited unless the change materially affects future support revenue. SAP concedes to EU, freeing CIOs from expensive support shackles
• Neutral Sentiment: Other items mention SAP-related AI and infrastructure news, including partner activity around SAP AI and SAP HANA Cloud, but these appear less directly tied to the stock’s immediate move. TCS Bets Big On SAP AI Push With Crystallus Expansion

About SAP

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company’s name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP’s product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.