SAP Stock Plunges 16% as Weak Cloud Backlog Growth Triggers Biggest Price Drop in 5 Years
Key Stats for SAP Stock
- Pre-market Price change for SAP stock: -16%
- $SAP Share Price as of Jan. 28: $234
- 52-Week High: $296
- $SAP Stock Price Target: $328
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What Happened?
SAP (SAP) stock crashed as much as 16% in pre-market after the German software giant reported current cloud backlog growth of just 25% in the fourth quarter, significantly missing Wall Street’s expectation of 26%.
The selloff marked SAP’s worst single-day decline since October 2020, when the stock plummeted 22% following disappointing third-quarter results.
- The company’s current cloud backlog—a measure of…
