Piper Sandler Sees Strong Upside for SAP SE (SAP) on Cloud ERP Momentum

SAP SE (NYSE:SAP) is one of the 13 best blue-chip stocks to buy, according to analysts. On June 17, Piper Sandler initiated coverage on SAP with an Overweight rating and a €350 price target, citing rapid growth in its Cloud ERP business. The segment has reached a €17 billion run rate, growing 34% year-over-year, and is expected to surpass 50% of total revenue in 2025.

Piper Sandler Sees Strong Upside for SAP SE (SAP) on Cloud ERP Momentum

A software engineer debugging a compliance code on a laptop in a modern office setting.

The firm believes this cloud shift will support double-digit revenue growth and 15–20% annual free cash flow gains through 2030. Piper Sandler sees SAP’s evolving cloud model and blockchain integration as key drivers of long-term earnings and valuation expansion.

SAP SE (NYSE:SAP) is a global leader in enterprise software and business AI solutions, headquartered in Walldorf, Germany. Founded in 1972, the company helps organizations streamline operations across finance, supply chain, procurement, HR, and customer experience. SAP is best known for its flagship ERP platform, SAP S/4HANA, and has rapidly expanded its cloud offerings, now serving over 300 million cloud users worldwide. SAP continues to drive innovation through technologies like in-memory computing, AI, and blockchain.

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