On June 23, SAP SE rose 3.12% in regular trading, trading at $154.055/share, with turnover of $125 million. The stock had previously fallen below its 52-week low of $158.58, with its early-June AI strategy-driven rally to above $195 fully retraced following a sector-wide selloff starting June 10.

On the news front, Bank of America analyst Frederic Boulan reiterated a Buy rating on SAP SE, designating it as the firm's top large-cap software pick and maintaining a target price of 210 euros. While the analyst noted some deceleration in second-quarter cloud business and EBIT trends, along with potential guidance adjustments due to geopolitical uncertainty, he still expects SAP to deliver industry-leading revenue growth exceeding 10%, supported by rising cloud penetration and AI commercialization scaling from next year onward.

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