SAP stock: BMO lifts target to USD 265, slightly lower pre-market

Published on 10/23/2026 at 08:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

SAP sells enterprise applications and business AI. At Lang & Schwarz the stock trades pre-market at EUR 214.15 on October 23, 2026, 0.56 percent below the Xetra close of October 22, 2026.

BMO updates its SAP target

BMO Capital raised its SAP target to USD 265 and retained an Outperform rating on October 22, 2026.
The rating remained Outperform on October 22, 2026.
SAP stock trades pre-market at EUR 214.15 at 8:39 a.m. CEST at Lang & Schwarz on October 23, 2026, 0.56 percent below the Xetra close of October 22, 2026.

Kubische Glasarchitektur des Software-Campus mit klaren Linien und Reflexionen — SAP SE (DE0007164600) kubische Glasarchitektur des Software-Campus mit klaren Linien und reflektierenden Flächen, Illustration mit AI erstellt.

On October 22, 2026, BMO Capital raised its SAP price target to USD 265 from USD 235 and kept an Outperform rating, according to Markets Insider. The firm cited 26% constant-currency backlog growth that exceeded consensus by more than 2 percentage points.

SAP stock trades pre-market at EUR 214.15 at 8:39 a.m. CEST at Lang & Schwarz on October 23, 2026, 0.56 percent below the Xetra close of October 22, 2026 (EUR 215.35).

BMO's revised view

The report said BMO saw conservatism in SAP's guidance narrative and linked its view to cloud backlog performance. Markets Insider attributed the item to TipRanks and reported that BMO maintained its Outperform rating.

Ahead of the Xetra open

The move is minus EUR 1.20 versus that reference level. The further course from the Xetra open at 9:00 a.m. CET/CEST is shown by the continuously updated real-time quote of SAP stock.