SAP (NYSE:SAP) Shares Gap Down – Here’s What Happened

SAP SE (NYSE:SAP) gapped down before the market opened on Thursday . The stock had previously closed at $264.12, but opened at $257.74. SAP shares last traded at $256.73, with a volume of 185,902 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $38.00 target price on shares of SAP in a research note on Thursday, January 30th. BMO Capital Markets boosted their price objective on SAP from $265.00 to $307.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Kepler Capital Markets raised SAP from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. Barclays lifted their price target on SAP from $283.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, TD Cowen upgraded shares of SAP from a “hold” rating to a “buy” rating and boosted their target price for the company from $240.00 to $305.00 in a report on Friday, January 17th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $248.83.

SAP Stock Down 2.9 %

The business has a 50 day simple moving average of $272.94 and a 200 day simple moving average of $247.23. The company has a market capitalization of $315.22 billion, a price-to-earnings ratio of 89.46, a PEG ratio of 4.71 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 1.10.

SAP (NYSE:SAP) last posted its earnings results on Tuesday, January 28th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.02). SAP had a return on equity of 12.18% and a net margin of 9.17%. As a group, equities analysts predict that SAP SE will post 6.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SAP

A number of hedge funds have recently bought and sold shares of the stock. Principal Street Partners LLC raised its holdings in shares of SAP by 1.0% in the 4th quarter. Principal Street Partners LLC now owns 3,688 shares of the software maker’s stock valued at $908,000 after purchasing an additional 35 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in SAP by 4.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 955 shares of the software maker’s stock valued at $235,000 after buying an additional 38 shares in the last quarter. Alaethes Wealth LLC lifted its holdings in SAP by 0.4% during the 4th quarter. Alaethes Wealth LLC now owns 11,087 shares of the software maker’s stock worth $2,730,000 after buying an additional 39 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of SAP by 2.0% during the 4th quarter. Lindbrook Capital LLC now owns 2,186 shares of the software maker’s stock worth $538,000 after acquiring an additional 43 shares in the last quarter. Finally, Foster Group Inc. increased its holdings in shares of SAP by 4.3% in the 4th quarter. Foster Group Inc. now owns 1,089 shares of the software maker’s stock valued at $268,000 after acquiring an additional 45 shares during the last quarter.

SAP Company Profile

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.