SAP (NYSE:SAP) Upgraded by Arete Research to Strong-Buy Rating

by · The Cerbat Gem

Arete Research upgraded shares of SAP (NYSE:SAP – Free Report) to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on SAP. Erste Group Bank cut SAP from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Cowen reiterated a “buy” rating on shares of SAP in a report on Thursday, October 23rd. Morgan Stanley reissued an “overweight” rating on shares of SAP in a report on Friday, October 31st. Barclays boosted their target price on SAP from $322.00 to $348.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, Argus reiterated a “buy” rating and set a $320.00 price objective on shares of SAP in a report on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, SAP currently has a consensus rating of “Buy” and a consensus price target of $284.33.

View Our Latest Research Report on SAP

SAP Price Performance

Shares of SAP stock opened at $244.69 on Thursday. The firm has a market cap of $300.60 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 3.55 and a beta of 1.19. SAP has a 12 month low of $233.51 and a 12 month high of $313.28. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $256.02 and a 200 day moving average price of $275.46.

SAP (NYSE:SAP – Get Free Report) last issued its earnings results on Wednesday, October 22nd. The software maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.17. The company had revenue of $10.65 billion for the quarter, compared to analyst estimates of $9.10 billion. SAP had a net margin of 19.50% and a return on equity of 15.69%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. Research analysts expect that SAP will post 6.55 EPS for the current year.

Institutional Trading of SAP

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First PREMIER Bank bought a new stake in shares of SAP during the 3rd quarter worth approximately $25,000. Retirement Wealth Solutions LLC raised its position in SAP by 246.4% during the third quarter. Retirement Wealth Solutions LLC now owns 97 shares of the software maker’s stock worth $26,000 after acquiring an additional 69 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in SAP in the third quarter valued at $27,000. Copia Wealth Management bought a new position in shares of SAP in the 3rd quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of SAP in the 2nd quarter valued at about $31,000.

About SAP

(Get Free Report)

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.

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