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    How SAP’s Deeper Snowflake AI Data Cloud Tie-Up Will Impact SAP (XTRA:SAP) Investors

    Simply Wall St·01/08/2026 03:31:02
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    • SAP and Snowflake recently announced a past collaboration to link Snowflake's AI Data Cloud with SAP Business Data Cloud, enabling bidirectional, zero‑copy data access and integrated AI capabilities expected to be available in early 2026.
    • This move could make SAP's core ERP and data platforms more attractive to enterprises that want advanced analytics without complex data duplication.
    • We'll now examine how this expanded AI data integration with Snowflake may influence SAP's existing investment narrative and long-term cloud thesis.

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    SAP Investment Narrative Recap

    To own SAP, you need to believe in its shift to higher margin cloud and Business AI, underpinned by a sticky ERP base and strong recurring revenue. The Snowflake integration supports this long term cloud and data story but does not materially change the near term focus on S/4HANA migration or the key risk of complex, slower moving enterprise deployments.

    The Snowflake and SAP Business Data Cloud link is most relevant here, because it directly addresses one of SAP’s core bottlenecks: accessing semantically rich operational data without adding more integration and migration complexity. By reducing the need for data copies between Snowflake and SAP, this announcement ties neatly into the existing cloud catalyst while also testing how well SAP can keep implementations manageable at scale.

    Yet beneath the promise of AI powered data partnerships, investors should be aware of the growing risk that SAP’s product and migration complexity could...

    Read the full narrative on SAP (it's free!)

    SAP's narrative projects €50.9 billion revenue and €10.3 billion earnings by 2028. This requires 12.3% yearly revenue growth and about a €3.8 billion earnings increase from €6.5 billion today.

    Uncover how SAP's forecasts yield a €286.75 fair value, a 38% upside to its current price.

    Exploring Other Perspectives

    XTRA:SAP 1-Year Stock Price Chart
    XTRA:SAP 1-Year Stock Price Chart

    Twenty one fair value estimates from the Simply Wall St Community span about €229.81 to €345, showing how differently investors are sizing up SAP’s prospects. Against that wide range, the central question is whether SAP’s push into integrated AI and cloud can offset concerns about prolonged, complex customer migrations and their impact on execution and growth.

    Explore 21 other fair value estimates on SAP - why the stock might be worth just €229.81!

    Build Your Own SAP Narrative

    Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

    • A great starting point for your SAP research is our analysis highlighting 4 key rewards that could impact your investment decision.
    • Our free SAP research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate SAP's overall financial health at a glance.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.