SAP shares rebound as Q1 cloud revenue jumps 27%

SAP’s share price climbed about 3.6% after reaching a 52‑week low of €130.80, lifting the stock to €135.58. The rally follows the company’s first‑quarter results, which showed cloud revenue up 27% and operating profit rising 24%.

Analysts kept buy recommendations, noting the strong cloud order backlog of €21.9 billion and expecting the cloud segment to reach €25.8‑26.2 billion for the year. At the same time, external pressures persist: Oracle announced a $95 billion AI‑infrastructure investment through 2027, and Accenture’s weak outlook has weighed on the broader European software sector. SAP also faces an EU antitrust investigation into whether it blocks customers from switching maintenance providers. The company is in a quiet period ahead of the half‑year results scheduled for 23 July, during which it will not comment further on performance or outlook.