On July 27, SAP SE rose 3.87% in pre-market trading, trading at $168.12/share, with turnover of $1.5617 million.

On the news front, the company previously released its Q2 earnings report showing cloud business revenue grew 22% year-over-year, with current cloud backlog reaching 22.929 billion euros, up 27% year-over-year. Total revenue of 9.878 billion euros slightly exceeded market expectations, while IFRS net profit surged 26% year-over-year. Although non-IFRS earnings per share of 1.59 euros missed the consensus estimate of 1.75 euros, the accelerating cloud business growth trajectory remains clearly intact.

Prior to the earnings release, multiple investment banks including Barclays, Wells Fargo, and UBS had cut their target prices, and the stock had declined approximately 35% year-to-date. Pessimistic expectations had been largely priced in during the sustained selloff. Following the earnings release, the strong cloud business performance has continued to support market sentiment recovery, with the stock extending its rebound from the July 24 post-earnings session.

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