SAP shares are among the heavyweights of the European economy - and have enjoyed stable growth for years. But what is really driving the share price?
SAP as a stock market heavyweight: More than just a software company
SAP’s share price reflects far more than just short-term fluctuations on the financial markets. Behind the share price is a company that has developed from a traditional ERP provider into a global driver of digital transformation in recent decades. Today, SAP is one of the most valuable software companies in Europe – and this is precisely what makes the share particularly interesting for many investors.
The digital transformation as a driver of growth
Anyone looking at SAP’s share price quickly realizes that the company’s value is based on its ability to continuously develop. While many technology companies are strongly focused on individual products or markets, SAP scores with a broad portfolio of solutions – from ERP and customer experience to AI-supported cloud solutions. The consistent transition to cloud-based business models is having an impact, both in terms of business development and perception on the financial markets.
Strong Q2 results underpin share price potential
In July 2025, SAP once again published impressive figures for the second quarter and first half of the year, which support the long-term share price outlook. The growth in the cloud segment is particularly striking: cloud revenue increased by 24% (+28% at constant currency) and revenue from the cloud ERP suite even rose by 30% (+34% at constant currency). At the same time, total Group revenue grew by 9%, or 12% adjusted for currency effects, while the operating result (non-IFRS) increased by a strong 32%, or 35% adjusted for currency effects. CEO Christian Klein emphasized in the balance sheet that new AI developments in particular, such as the “Joule” assistant and the “SAP Business Data Cloud” offering, have strengthened the portfolio enormously. Such strong fundamental figures create confidence in the share price because they show that SAP is actively driving forward its transformation and benefiting significantly financially in the process(source: SAP, 2025).
Trust through innovation: Why investors value SAP
A key driver of confidence in the SAP share is the transformation towards a cloud-first approach. Rising cloud revenues, coupled with investments in artificial intelligence, are strengthening the market position and confidence in the business model. The high level of recurring revenue also ensures predictability – a clear plus point from an investor’s perspective.
Of course, challenges are also part of the overall picture. Competition in the cloud and SaaS environment is constantly growing, and the valuation of the share is also ambitious. Nevertheless, SAP has so far proven to be stable and fit for the future – not least thanks to a strong partner ecosystem, innovative strength and global presence.
The SAP share price in the overall context and the role of AGILITA
For long-term investors, SAP can be an attractive addition to the portfolio – not because of daily highs, but because of a sustainable strategy with future potential.
This development is also reflected in SAP partners such as AGILITA. As a long-standing cloud ERP specialist, we not only support companies in their transition to the SAP S/4HANA cloud, but are also actively shaping the future on the SAP Business Technology Platform (BTP). We are developing our own solutions based on the latest SAP technologies, particularly in the field of artificial intelligence. One example of this is our smart time recording app AGIL AI.TimeManager – developed on the BTP with a focus on automation, user-friendliness and AI-supported data validation.
We are also one of the first companies in the DACH region to implement productive projects on the SAP Business Data Cloud – a milestone for the data-driven corporate management of tomorrow. All these activities show: The future of the SAP world lies not only in the rising share price, but in the concrete solutions that are being developed and implemented today.
With AGILITA, companies are ideally positioned to actively take the path to the cloud, AI-supported processes and data-based decisions – efficiently, integrated and future-proof.
