Movement Alert｜SAP SE Rises 3.13% in Pre-Market Trading, Bank of America Reaffirms Buy Rating and Names It Top Large-Cap Software Pick

Market Focus06-23 18:09

On June 23, SAP SE rose 3.13% in pre-market trading, trading at $154.28/share, with turnover of $3.1685 million. The stock had previously fallen below its 52-week low of $158.58, fully retracing gains from an early-June AI strategy-driven rally.

On the news front, Bank of America analyst Frederic Boulan reaffirmed a Buy rating on SAP SE, designating it the firm's top large-cap software pick and maintaining a target price of €210. While the analyst acknowledged some deceleration in Q2 cloud business and EBIT trends, along with potential guidance adjustments due to geopolitical uncertainty, he still expects SAP to deliver industry-leading revenue growth exceeding 10%. This outlook is underpinned by rising cloud adoption rates and the anticipated scaling of AI commercialization beginning in 2027.

Within the Application Software sector, the broader group showed mixed performance. Among peers, Salesforce.com up 1.03%, Palantir Technologies down 0.26%, AppLovin down 0.08%, Strategy down 2.12%, and IREN Ltd down 4.84%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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