Oppenheimer analyst Brian Schwartz raised his price target for SAP to $150 from $141 and maintained an Outperform rating after attending Tuesday's investors' meeting, saying he has gained increased confidence in SAP's abilities to increase share of its customers' IT budgets and in the enterprise software market,deliver faster cash flow and earnings growth ahead versus Oracle and the overall market, and make successful investments in new technologies, like Qualtrics, that support long-term growth. Schwartz says SAP's Capital Markets Day reinforced his view that the company's fundamental outlook and valuation could look increasingly positive relative to other high growth software companies through year-end.

Berenberg raised the firm's price target on SAP to EUR 195 from EUR 190 and keeps a Buy rating on the shares.

HSBC raised the firm's price target on SAP to EUR 200 from EUR 180 and keeps a Buy rating on the shares. The company's Q1 report was "solid even if not spectacular" as it sees continued strong momentum, the analyst tells investors in a research note. The firm says SAP's long-term revenue growth prospects are supported by a shift to cloud combined with monetization of its artificial intelligence opportunity.

Barclays lowered the firm's price target on SAP to $210 from $212 and keeps an Overweight rating on the shares post the Q1 report. SAP is well positioned for artificial intelligence, but the near-term financial impact is likely to be limited, while any restructuring creep should drive further EBIT upside, files to sell common stock, no amount given