Why did Siemens stock drop today?

The decline was led by a broad reset in software valuations, which pulled down industrial software names. Siemens has meaningful software exposure within Digital Industries, so multiple compression in that segment hit the overall equity. This was more about sector sentiment and AI‑linked rerating than company‑specific news.

What does the Santander upgrade imply?

Santander raised Siemens to Buy with a €287 target, pointing to resilient automation demand and software optionality. The call suggests the pullback may be tactical, with better risk‑reward after the drop. However, factor‑driven selling can delay the impact of upgrades in the very short term.

How important is software to Siemens’ valuation?

Analysts estimate software at about 20% of Siemens’ sum‑of‑the‑parts. That includes PLM, simulation, and industrial IoT. When software multiples compress, it can move the Siemens share price more than hardware or services. This helps explain the outsized reaction during sector‑wide de‑rating days.

What should German investors watch next?

Focus on the 12 February earnings for updates on Digital Industries margins, software ARR, and order trends. Watch if the 50‑day and 200‑day moving averages hold during volatility. Also monitor broader software sentiment, as factor flows can overshadow single‑stock news in the short run.

Global Market Insights

SIE.DE Stock Today: Software Valuation Reset Hits Shares February 05

ByDanny Kontos February 5, 2026February 5, 2026

Siemens stock fell sharply today as a broad software valuation reset hit industrial software names. The move pushed the Siemens share price down as much as 7% even as Santander upgraded the stock to Buy with a €287 target. Investors focused on AI‑exposed multiples rather than company news. Morgan Stanley estimates software at about 20% of Siemens’ sum‑of‑the‑parts, which magnifies the swing. With ticker SIE.DE on watch across Frankfurt, the next catalyst is earnings on 12 February 2026.