SAP
SAP SE
stock NYSE ADR

Match Group is down massively since 2021. Narrative is that online dating is dead and Tinder has grown stale due to short term monetisation and predatory algorithms. The "new" ceo though, is breaking down silos, making dating fun again and reinstating focus on innovation. Match is performing massive share buybacks.
Link: [Match Group’s New Leadership: A Turnaround for the Dating Conglomerate – MultipleStrategy](https://multiplestrategy.com/2026/04/22/match-group-update/)
Link: [Exploring alternative valuation methods - an analysis of Match Group \[MTCH\] : r/ValueInvesting](https://www.reddit.com/r/ValueInvesting/comments/1td40t2/exploring_alternative_valuation_methods_an/)
Teleperformance is down YTD massively. Chat bots and agents are taking market share.
They recently changed their CEO to a ex AI consultant - planning to implement AI across their organisation.
The bull thesis is that chat bots are still not sufficient for comprehensive customer support, and at a PE around 6 - the market might be too aggressive in their assumptions on AI, chat bots and their market share. I am not really bullish, but it is a turn around case. The bear thesis (imo) is that Teleperformance AI capabilities are severely out competed in both verticals and horizontals. Furthermore, investing and implementing in AI might be expensive - at the cost of the thesis: cigar butt approach. It is still unclear, what direction they will end up taking.
Link: [Don’t feed the dog, with the cash cow! – MultipleStrategy](https://multiplestrategy.com/2026/06/29/in-investing-one-cant-be-afraid-of-every-shadow/)
Rockwool is my favourite. But it is not a turn around case - for anything but the share price. Rockwool had headwinds with asset seizures in Russia and elevated energy cost. This conservative quality company with plenty of tailwinds is now trading at around PE 15 (adjusted for the write downs).
Link: [Valuation Rockwool – MultipleStrategy](https://multiplestrategy.com/2026/02/03/rockwool-3/)
Other depressed multiples to historical norms can be found in consultancy or software.
I recently added SAP (3%), CRM (3%) & HUBSPOT (3%) to my portfolio.
I have shares in Rockwool (around 20%).
I have shares in Match Group (around 10%).

Not financial advice.
I can have made mistakes.
Do your own research.

Genau im Gegenteil, für jeden düsenjäger den ich mit Xiaomi und SAP verlier mach ich mir nen Schampus auf

Wie denn, so ganz ohne SAP? /s

SAP, Telekom, und natürlich Berater noch und nöcher.

Match Group is down massively since 2021. Narrative is that online dating is dead and Tinder has grown stale due to short term monetisation and predatory algorithms. The "new" ceo though, is breaking down silos, making dating fun again and reinstating focus on innovation. Match is performing massive share buybacks.
Link: [Match Group’s New Leadership: A Turnaround for the Dating Conglomerate – MultipleStrategy](https://multiplestrategy.com/2026/04/22/match-group-update/)
Link: [Exploring alternative valuation methods - an analysis of Match Group \[MTCH\] : r/ValueInvesting](https://www.reddit.com/r/ValueInvesting/comments/1td40t2/exploring_alternative_valuation_methods_an/)
Teleperformance is down YTD massively. Chat bots and agents are taking market share.
They recently changed their CEO to a ex AI consultant - planning to implement AI across their organisation.
The bull thesis is that chat bots are still not sufficient for comprehensive customer support, and at a PE around 6 - the market might be too aggressive in their assumptions on AI, chat bots and their market share. I am not really bullish, but it is a turn around case. The bear thesis (imo) is that Teleperformance AI capabilities are severely out competed in both verticals and horizontals. Furthermore, investing and implementing in AI might be expensive - at the cost of the thesis: cigar butt approach. It is still unclear, what direction they will end up taking.
Link: [Don’t feed the dog, with the cash cow! – MultipleStrategy](https://multiplestrategy.com/2026/06/29/in-investing-one-cant-be-afraid-of-every-shadow/)
Rockwool is my favourite. But it is not a turn around case - for anything but the share price. Rockwool had headwinds with asset seizures in Russia and elevated energy cost. This conservative quality company with plenty of tailwinds is now trading at around PE 15 (adjusted for the write downs).
Link: [Valuation Rockwool – MultipleStrategy](https://multiplestrategy.com/2026/02/03/rockwool-3/)
Other depressed multiples to historical norms can be found in consultancy or software.
I recently added SAP (3%), CRM (3%) & HUBSPOT (3%) to my portfolio.
I have shares in Rockwool (around 20%).
I have shares in Match Group (around 10%).

Not financial advice.
I can have made mistakes.
Do your own research.

Genau im Gegenteil, für jeden düsenjäger den ich mit Xiaomi und SAP verlier mach ich mir nen Schampus auf

Wie denn, so ganz ohne SAP? /s

SAP, Telekom, und natürlich Berater noch und nöcher.

Some companies I like right now. NOW, VEEV, SAP, TYL, TRI, HUBS, APP, and maybe ZETA. I also like DDOG and CRWD but their valuations are crazy stupid right now.

[SAP](https://www.onvista.de/aktien/SAP-SE-Aktie-US8030542042) - SAP (ADR) 📃@141,00€(0,00% 🥱)

$SAP Werbung mitten im Täglichen, wenn das mal nicht ein ~~berisches~~ stierisches Zeichen für meine Langhosen ist 😬
https://preview.redd.it/2fp8x9jrq0bh1.png?width=1344&format=png&auto=webp&s=aed8b9dc27e5f7373936f39753cb0e6aafa403ee

Reposted from my comment a while back and so far it is still holding true:
I think it depends on what is your timeline horizon.
Give it a long enough time (maybe 5 to 10 years) and it would potentially go back up to 250.
I have left the company (APAC) from a sales position for nearly a year now but the company is filled with problems internally. No one in the inside really sees a direction in what is happening with the company. Cost cutting and laying people off quietly have happened in the last 3 years I was there.
When AI came about, they were proud about Joule. Now it is great that they are at the forefront of AI no doubt and as u put it they have alot of data, but SAP and Innovation gels as well as bread and pickles. Sure you might be able to get something from it but it is still rather low quality.
Also, customers dont look to SAP for innovation. They look to them for stability. As long as my books can close with no errors and my warehouse can do inbound/outbound accurately, its great. They dont look to SAP for the next big thing - and that area is where growth in stock markets will be. And most importantly, companies buying SAP ERP are large enterprise who are already using it anyway. So the 'growth' in revenue and profit typically comes from the yoy increment in fees. Most will buy additional license and software here and there or switch out from ecc. But nothing major will ever happen.
So if you have money, and u expect SAP to bring you 10 or 15% yoy growth, u are better off betting somewhere else. But if you believe it will be stable and maybe increase in incremental value in a decade, then SAP is your bet.

Der Lagerist darf sich gerne auf die CEO Stelle bewerben, in den meisten Fällen sind das auch einfache Angestellte die sich da Stück für Stück hochgearbeitet haben.
**Martin Daum (Daimler Truck)**: Er begann seine Karriere im Daimler-Konzern ganz klassisch mit einer Ausbildung zum Bankkaufmann.
**Doug McMillon (Walmart)**: Er begann 1984 als Teenager im Sommerjob beim Be- und Entladen von Lkw in einem Walmart-Logistikzentrum.
**Christian Klein (SAP):** Er begann 1999 bei SAP als **einfacher Schülerpraktikant und Werkstudent**. Er absolvierte dort ein duales Studium der Internationalen Betriebswirtschaftslehre.
**Mary Barra (General Motors)**: Sie startete 1980 im Alter von 18 Jahren als studentische Werkstudentin ("Co-op Student") in einer Pontiac-Fabrik, um ihr Studium zu finanzieren. Sie kontrollierte dort Kotflügel und Hauben, bevor sie sich über 33 Jahre bis zur Vorstandsvorsitzenden hocharbeitete.
Die Aussage der Regaleinordner wäre höher belastet als als der CEO strotz vor Dummheit und Ignoranz. Es gibt da ein lustiges Interview, in dem Psychologen gefragt werden, wie viele Menschen sie denn schon geheilt haben und die Psychologen fangen alle an zu lachen. Psychologen helfen dir, dich in die Lage zu bringen, mit der Krankheit zu leben. Nur weil man die Krankheiten nicht sehen kann, sind sie trotzdem echt. Nur weil du die Belastung nicht sehen kannst, ist sie trotzdem da - und zwar 24/7.
Natürlich haben Menschen mit wenig Gehalt ebenso Belastungen, niemand würde ihnen das absprechen, so wie du das in die andere Richtung gerade tust. Sie nehmen aber selten die Frage Arbeit mit nach Hause und können zuhause echt abschalten.

[SAP](https://www.onvista.de/aktien/SAP-Aktie-DE0007164600) - SAP 📃@139,65€(-1,96% 😡)

I don’t trade it because it’s too much of a meme stock. Too many people with strong feelings for and against. Too political and too much potential for government influence. And frankly like many I don’t really understand their business. I buy what I know and I know enterprise s/w like SAP, CRM,NOW, CRWD, Oracle, IBM from my time working for IBM.