🔴 SAP SE is trading 3.2% down today after Goldman Sachs trims margin forecasts

SAP SE is trading 3.2% down at $146.88 today after Goldman Sachs lowered its gross margin estimates for the second half of 2026.

• Goldman Sachs analysts cited rising hardware costs as the primary driver for the downward revision of margin expectations.
• The stock continues a multi-day slide, having retreated from a high of $162.86 over the past week.
• Broader equity market weakness is adding further pressure to large-cap software names, contributing to the downside.