Back to News
Oct 23, 2025 12:30 PM

SAP Cloud Revenue Growth Ticks Down, Could Meet Lower End Of 2025 Guidance Despite Macro Uncertainty

SAP SE (NYSE:SAP) expects cloud revenue for 2025 to range between 21.6 billion to 21.9 billion euros ($25.2 billion – $25.5 billion), according to the software company’s latest report.

The forecast coincides with mixed third-quarter results. Here are the latest analyst takeaways:

Citizens JMP Securities analyst Patrick Walravens maintained a Market Outperform rating and a $375 price target.

Piper Sandler analyst Hannah Rudoff reiterated an Overweight rating and a $300 price target.

Check out other analyst stock ratings.

Citizens JMP Securities: SAP reported earnings of 1.59 euros ($1.85) per share, topping consensus of 1.49 euros per share. Total revenue of 9.08 billion euros is in line with expectations, Walravens said in a note.

Revenue grew by 11% year-on-year in ...