SAP - SAP's Partnership Potential With Hyperscalers Like Microsoft And Google: Analyst Weighs In | Benzinga
BMO Capital Markets analyst Keith Bachman reiterated the Market Perform rating on SAP SE (NYSE: SAP), raising the price target to $147 from $140.
Bachman notes that SAP introduced Joule, a natural-language GenAI copilot, a few weeks ago, which will be embedded across SAP's cloud enterprise portfolio and deliver proactive and contextualized insights. More broadly, the analyst adds that SAP has a sound strategy in pursuing partnerships with "hyperscalers" such as Microsoft Corporation (NASDAQ: MSFT) and Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL).
In Q3, SAP reported revenue growth of 4% Y/Y to €7.744 billion. Total revenue was up 9% Y/Y