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UBS said it expects SAP's cloud backlog to slow. SAP reports on 21 October.

Michael Briest, an analyst at the Swiss bank UBS, kept a Neutral rating and a €201 price target on SAP. He expects a slowdown in its short-term cloud backlog, a measure of contracted cloud revenue, Börse Express reported on 10…

ERP LEADERS news desk · · First reported by Börse Express · Edition no. 35

Michael Briest, an analyst at the Swiss bank UBS, kept a Neutral rating and a €201 price target on SAP. He expects a slowdown in its short-term cloud backlog, a measure of contracted cloud revenue, Börse Express reported on 10 October. He did not downgrade the stock. Neither report carries a response from SAP.

The investment bank BMO Capital went the other way on 8 October, raising its target on SAP's US shares from $177 to $235 and citing improved cloud growth expectations and more constructive feedback on Joule, SAP's AI assistant, Investing.com reported.

At its Connect conference last week, SAP announced a target of more than 400 Joule agents in the market by the end of the year. Chief executive Christian Klein said SAP had built 20 Joule assistants and more than 200 agents since its Sapphire conference.

The third quarter ended on 30 September, so its closing backlog cannot show any customer response to the agent target announced at Connect on 5 to 7 October.

What would your company need to see from Joule before expanding its SAP cloud commitment?

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