SAP SE ADR

SAP: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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SAP Earnings: Another Strong Quarter, but Q4 Bookings Are Key For 2027; Shares Undervalued

Rob Hales

Oct 22, 2026

SAP delivered better-than-expected third-quarter results with stable 26% current cloud backlog growth, a modest top and bottom line beat versus company-compiled consensus, and a slight upgrade to 2026 guidance. Shares were flat intraday on Oct. 22.

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SAP SE ADR

SAP Earnings: Another Strong Quarter, but Q4 Bookings Are Key For 2027; Shares Undervalued

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