What Went Wrong With SAP Stock?

SAP stock plummeted 15% on January 29—the sharpest single-day decline since October 2020. What caused this decline?

Forbes • Jan 30, 2026

SAP shares see biggest drop since 2020 after reporting disappointing cloud contract value

It's the biggest daily fall since October 26 2020, when stock dropped 22% following disappointing third quarter results

CNBC • Jan 29, 2026

SAP meets Q4 revenue forecasts, cloud demand resilient

SAP on Thursday reported fourth-quarter revenue that met market estimates, as resilient demand for its cloud software and services suggested enterprise spending held up despite a cooling global economy.

Reuters • Jan 29, 2026

SAP shares set for biggest daily drop since 2020

Shares in Europe's largest software maker SAP were set for their steepest daily fall since October 2020 on Thursday, down over 10% after results failed to stem a slide that has wiped around $150 billion off its market value from its 2025 peak.

Reuters • Jan 29, 2026

SAP Dives Amid Mixed Results As Key Cloud Metric Disappoints

SAP's Q4 operating profit beat while revenue and a key cloud metric came in light.

Investors Business Daily • Jan 29, 2026

SAP shares plunge on cloud backlog disappointment

German software giant SAP shares tumbled nearly 17% in early trading on Thursday after the company reported weaker-than-expected growth in its cloud contract backlog for the fourth quarter, marking its biggest daily drop in more than five years. SAP reported Q4 non-IFRS earnings per share of €1.62, up 16% from a year earlier, slightly below analysts' expectations of €1.76.

Proactive Investors • Jan 29, 2026

SAP Stock Sees Biggest Drop Since 2020 Over Cloud Concerns

Shares in German tech giant SAP have reportedly seen their largest one-day loss since 2020. The decline came as the company rattled investors over the health of its cloud computing business, the Financial Times (FT) reported Thursday (Jan. 29).

PYMNTS • Jan 29, 2026

SAP Stock Tumbles 13% After Earnings. Why Cloud Concerns Are Gathering.

The results come a day after Microsoft spooked investors by reporting so-so revenue numbers for its own cloud division.

Barrons • Jan 29, 2026

SAP's Q4 Earnings & Revenues Up Y/Y, Stock Down on Weak Cloud Backlog

SAP's Q4 EPS jumps 16% as cloud bookings and AI drive profits, but shares sink after cloud backlog and 2026 guidance miss expectations.

Zacks Investment Research • Jan 29, 2026

SAP shares get punished for slight miss on backlog

Shares of SAP were hammered on Thursday as the German software giant reported slower backlog growth than expected in the fourth quarter and also guided to a slight deceleration this year.

Market Watch • Jan 29, 2026