SAP (NYSE:SAP) Upgraded at Arete Research

by · The Markets Daily

SAP (NYSE:SAP – Get Free Report) was upgraded by Arete Research to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other analysts also recently commented on the company. Barclays increased 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SAP in a research report on Friday, October 31st. Argus reissued a “buy” rating and issued a $320.00 target price on shares of SAP in a research report on Friday, October 24th. Oddo Bhf raised shares of SAP from a “neutral” rating to an “outperform” rating in a report on Wednesday, September 24th. Finally, KeyCorp reissued an “overweight” rating on shares of SAP in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $284.33.

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SAP Price Performance

SAP opened at $244.69 on Thursday. The firm has a market cap of $300.60 billion, a PE ratio of 36.63, a P/E/G ratio of 3.55 and a beta of 1.19. The stock has a 50-day moving average price of $256.02 and a 200-day moving average price of $275.46. SAP has a 1 year low of $233.51 and a 1 year high of $313.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.10.

SAP (NYSE:SAP – Get Free Report) last released its quarterly earnings data on Wednesday, October 22nd. The software maker reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.17. The business had revenue of $10.65 billion during 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%. SAP’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.23 EPS. Sell-side analysts predict that SAP will post 6.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SAP

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

SAP Company Profile

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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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