Erste Group Bank Has Negative Outlook of SAP FY2026 Earnings

SAP SE (NYSE:SAP) – Equities researchers at Erste Group Bank cut their FY2026 EPS estimates for shares of SAP in a research note issued to investors on Friday, September 18th. Erste Group Bank analyst H. Engel now forecasts that the software maker will earn $8.10 per share for the year, down from their prior forecast of $8.24. The consensus estimate for SAP’s current full-year earnings is $8.16 per share.

SAP (NYSE:SAP) last issued its earnings results on Wednesday, July 22nd. The software maker reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.18). The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.30 billion. SAP had a net margin of 20.88% and a return on equity of 17.07%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 earnings per share.

Other research analysts have also recently issued research reports about the stock. UBS Group cut shares of SAP from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 26th. Argus set a $265.00 price objective on SAP in a research report on Thursday, September 10th. Wells Fargo & Company reissued an “overweight” rating on shares of SAP in a report on Wednesday, August 12th. Weiss Ratings upgraded SAP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SAP in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $256.29.

SAP Price Performance

Shares of NYSE SAP opened at $210.77 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market capitalization of $258.93 billion, a PE ratio of 26.48, a P/E/G ratio of 2.48 and a beta of 1.14. SAP has a 1-year low of $144.97 and a 1-year high of $281.36. The business’s fifty day moving average price is $200.04 and its two-hundred day moving average price is $181.55.

Hedge Funds Weigh In On SAP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings in shares of SAP by 12.0% in the 2nd quarter. QRG Capital Management Inc. now owns 68,368 shares of the software maker’s stock worth $10,536,000 after purchasing an additional 7,315 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in SAP by 41.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,897 shares of the software maker’s stock worth $1,063,000 after buying an additional 2,023 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of SAP by 18.5% in the second quarter. Tidal Investments LLC now owns 1,214,315 shares of the software maker’s stock valued at $187,138,000 after buying an additional 189,591 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of SAP during the 2nd quarter valued at $364,000. Finally, WINTON GROUP Ltd lifted its position in shares of SAP by 45.1% during the 2nd quarter. WINTON GROUP Ltd now owns 11,780 shares of the software maker’s stock valued at $1,815,000 after acquiring an additional 3,660 shares during the last quarter.

Key Stories Impacting SAP

Here are the key news stories impacting SAP this week:

• Positive Sentiment: SAP’s ecosystem and artificial-intelligence strategy received additional exposure through SAPinsider Copenhagen 2026, where customers will receive hands-on access to Joule Studio and SAP’s agent-building tools. The event could support adoption of SAP’s AI products, although it is primarily promotional. SAPinsider Copenhagen 2026 to Host SAP Agent Lab
• Positive Sentiment: SAP Labs India expanded its partnership with Gati Shakti Vishwavidyalaya to incorporate SAP learning into academic programs, helping build a future talent pipeline and strengthen the company’s presence in India. SAP Labs India and GSV Strengthen Alliance
• Positive Sentiment: SAP and ZEE Media honored Hyderabad business leaders, providing additional brand visibility in a key growth market. The announcement is unlikely to materially affect near-term earnings. SAP and ZEE Media Honor Hyderabad Business Leaders
• Neutral Sentiment: Articles discussing SAP’s “autonomous enterprise,” Judgment AI and next-generation ERP highlight the company’s strategic direction, but provide limited new financial information or immediate catalysts. SAP Judgment AI and Next-Generation ERP
• Negative Sentiment: The Delhi High Court ordered SAP India to restore critical software-support services to Nayara Energy, ruling that European Union sanctions do not override the contractual obligations in India. The decision may increase compliance, legal and operational uncertainty for SAP, though it preserves an ongoing customer relationship. SAP Must Restore Nayara Energy Services
• Negative Sentiment: Erste Group cut its fiscal 2026 EPS estimate for SAP to $8.10 from $8.24, below the approximately $8.16 consensus forecast. The reduction could weigh on sentiment by signaling somewhat lower expected earnings growth.

SAP Company Profile

SAP SE is a German enterprise software company headquartered in Walldorf, Germany. The company develops technology that helps organizations manage core business operations, including finance, procurement, supply chain, manufacturing, human resources, sales and customer relationships.

SAP’s portfolio is centered on its cloud-based enterprise resource planning platform, SAP S/4HANA, along with the SAP Business Technology Platform. Its products and services also include SAP SuccessFactors for human resources, SAP Ariba for business-to-business procurement, SAP Concur for travel and expense management, and solutions for customer experience, data management, analytics and artificial intelligence.

SAP was founded in 1972 by five former IBM employees and has grown into a global provider of business software.