SAP stock gains as UBS raises its price target

Published on 09/22/2026 at 11:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

UBS lifted its SAP target to EUR 201 from EUR 164 on September 20, 2026. Xetra shares closed at EUR 183.12 on September 18.

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SAP stock closed at EUR 183.12 on Xetra on September 18, 2026, while UBS raised its price target to EUR 201 from EUR 164. The EUR 37 increase gives the analyst view a concrete contrast with the software group's near-term margin pressure.

UBS lifts target by EUR 37

According to Ad-hoc-news on September 20, 2026, UBS maintained a Neutral rating but increased its SAP target from EUR 164 to EUR 201. The target change amounts to 22.6 percent, calculated against the former target, and reflects stronger medium-term earnings expectations despite nearer-term pressure on margins.

The same report says SAP narrowed its 2026 operating profit guidance range. That combination matters: the higher valuation framework is being set against a more constrained current-year outlook, so execution and margin delivery remain central to the share-price case.

Analyst views remain divided

According to Finanzen.ch on September 22, 2026, JPMorgan kept SAP at Neutral with a EUR 175 target ahead of third-quarter results. The cited target is EUR 8.12 below the September 18 Xetra close, showing how sharply estimates differ even after UBS raised its target.

Another analyst snapshot published by TipRanks on September 21, 2026, reported a Buy rating reiterated by Bank of America and a consensus target of USD 222.25. The same report cited an Argus Research Buy rating with a USD 265 target from September 9, 2026, underlining the wide spread between individual views.

Stock stays below the higher target

At EUR 183.12 on September 18, 2026, SAP stock stood EUR 17.88 below the UBS target of EUR 201, equivalent to 8.9 percent. For investors, the important comparison is not the target alone but the gap between UBS optimism on medium-term earnings and JPMorgan's EUR 175 valuation near the next results.

Market data from September 22, 2026 placed SAP's market capitalization at EUR 211.357 billion. The company therefore remains one of the largest listed software groups in the European market, while the target revisions keep attention on guidance, cloud execution and margin development.

SAP stock closes at EUR 183.12

SAP stock closed at EUR 183.12 on Xetra on September 18, 2026. The price is the reference quotation for SAP's primary German listing, and the UBS target of EUR 201 and JPMorgan target of EUR 175 define the current analyst range described in the available reports.