SAP (NYSE:SAP) Reaches New 52-Week High – Here’s What Happened

SAP SE (NYSE:SAP)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $260.73 and last traded at $260.37, with a volume of 40718 shares. The stock had previously closed at $253.50.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SAP. Barclays upped their price target on shares of SAP from $252.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Kepler Capital Markets upgraded shares of SAP from a “hold” rating to a “buy” rating in a report on Wednesday. TD Cowen raised their price target on shares of SAP from $234.00 to $240.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. JMP Securities boosted their price objective on shares of SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets raised their target price on shares of SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.33.

SAP Trading Up 0.0 %

The company has a 50 day simple moving average of $244.74 and a two-hundred day simple moving average of $227.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $321.61 billion, a PE ratio of 104.72, a P/E/G ratio of 3.56 and a beta of 1.22.

SAP (NYSE:SAP) last announced its quarterly earnings data on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.08). SAP had a net margin of 8.15% and a return on equity of 11.44%. The business had revenue of $8.47 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. Analysts expect that SAP SE will post 4.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Godsey & Gibb Inc. purchased a new position in shares of SAP in the 3rd quarter valued at about $25,000. Brooklyn Investment Group acquired a new stake in SAP in the third quarter valued at approximately $42,000. Prospera Private Wealth LLC purchased a new stake in shares of SAP in the third quarter valued at approximately $47,000. Financial Management Professionals Inc. raised its stake in shares of SAP by 104.0% during the 4th quarter. Financial Management Professionals Inc. now owns 202 shares of the software maker’s stock worth $50,000 after buying an additional 103 shares during the period. Finally, Versant Capital Management Inc purchased a new position in shares of SAP during the 4th quarter valued at approximately $54,000.

About SAP

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.