Dan Ives highlighted four European tech companies—SAP, ASML, Klarna, and Spotify—to watch despite investor dissatisfaction with the region’s tech sector. He noted that Europe’s tech landscape is facing challenges and criticism as startups often look to the U.S. for opportunities.
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SAP: Analysts predict an 11.4% decline in stock price by 2025, yet foresee a 35.9% upside potential, with a target of €286.42 ($335.84). Bank of America sees promise in SAP’s AI products and operational efficiencies expected by 2026.
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ASML: The Dutch semiconductor equipment supplier saw a 38.6% increase in inventories this year. Analysts have set a target of €972.44 ($1,140.22) and consider ASML crucial in the AI and semiconductor fields.
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Klarna: After a 19% drop since its NYSE debut, analysts expect a 41.1% upside with a target of $45.63. Klarna exceeded revenue expectations in its first earnings report, driven by strong growth in the U.S.
- Spotify: The streaming service’s stock increased by 33.9% in 2025, with a revenue boost of 12% year-over-year. Analysts project a price target of $754.87, noting potential subscription price hikes in 2026 could further increase revenue.
Despite a tough environment, these companies hold significant upside potential.
