TD Cowen Maintains Buy Rating on SAP SE (SAP)

On April 15, 2026, TD Cowen expert Derrick Wood lowered the terms people connected SAP SE (NYSE:SAP) to $250 from $300 and maintained a Buy rating. The steadfast updated its exemplary pursuing mixed transmission checks, noting that endeavor request remained coagulated portion commercialized trends softened sequentially, reflecting emerging macro uncertainties, peculiarly successful energy-related verticals and the Middle East. TD Cowen besides pointed to caller commentary from SAP’s CEO astir imaginable pricing changes, which could present immoderate near-term disruption.

On April 12, 2026, BMO Capital lowered its terms people connected SAP to $210 from $245 portion keeping an Outperform standing up of Q1 results. The steadfast sees imaginable upside to escaped currency travel estimates but expects constricted upside successful integrated Current Cloud Backlog growth. It added that successful the existent exertion environment, companies are progressively required to present upside surprises, adjacent with valuations already nether pressure.

Separately, SAP SE (NYSE:SAP) and Reltio announced that SAP has agreed to get Reltio, a maestro information absorption bundle provider, successful a determination aimed astatine helping customers marque some SAP and non-SAP endeavor information AI-ready. The transaction is expected to adjacent successful Q2 oregon Q3 of 2026, taxable to customary closing conditions and regulatory approvals.

SAP SE (NYSE:SAP) provides endeavor bundle and concern solutions globally.

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