SAP shares set for biggest daily drop since 2020

101 finance2026/01/29 09:12

By:101 finance

MILAN, Jan 29 (Reuters) - Shares in Europe's largest software maker SAP were set for their ‌steepest daily fall since October 2020 on ‌Thursday, down over 10% after results failed to stem a slide that has wiped around $150 billion off ⁠its market value ‌from its 2025 peak.

The German group reported fourth-quarter revenue ‍that met market estimates, though its cloud backlog and 2026 cloud revenue forecast missed expectations.

"SAP needed an all-round ‌acceleration to fight the trough sector sentiment, and with puts and takes in the update we see shares underperforming," said Citi analyst ⁠Balajee Tirupati.

Like other software makers in Europe and on Wall Street, SAP has been dragged by growing ‍fears of ⁠AI disruption.

By 0852 GMT, the stock was down 11% after ⁠earlier hitting its lowest level since June ‌2024.

(Reporting by Danilo Masoni, editing ‌by Alun John)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

SAP shares set for biggest daily drop since 2020

You may also like

Trending news

Crypto prices