SAP (NYSE:SAP) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of SAP (NYSE:SAP) from a hold rating to a buy rating in a report issued on Saturday.

SAP has been the subject of several other reports. Wells Fargo & Company assumed coverage on SAP in a report on Tuesday, May 20th. They issued an “overweight” rating for the company. Erste Group Bank lowered SAP from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. Barclays reissued an “overweight” rating and set a $322.00 price target (up from $308.00) on shares of SAP in a research report on Friday, July 25th. Morgan Stanley reaffirmed an “overweight” rating on shares of SAP in a research report on Tuesday, August 5th. Finally, JMP Securities upped their target price on shares of SAP from $330.00 to $375.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $281.67.

SAP Stock Down 1.9%

Shares of NYSE:SAP opened at $252.17 on Friday. The stock has a 50-day simple moving average of $283.06 and a 200-day simple moving average of $282.96. The stock has a market capitalization of $309.79 billion, a P/E ratio of 41.75, a PEG ratio of 3.69 and a beta of 1.29. SAP has a 1 year low of $217.51 and a 1 year high of $313.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03.

SAP (NYSE:SAP) last posted its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 EPS for the quarter, beating the consensus estimate of $1.63 by $0.07. SAP had a net margin of 18.26% and a return on equity of 14.84%. The firm had revenue of $10.58 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter last year, the firm posted $1.10 earnings per share. SAP’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts forecast that SAP will post 6.55 earnings per share for the current year.

Hedge Funds Weigh In On SAP

Several large investors have recently modified their holdings of SAP. Brighton Jones LLC increased its holdings in SAP by 91.1% in the fourth quarter. Brighton Jones LLC now owns 2,633 shares of the software maker’s stock valued at $648,000 after buying an additional 1,255 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of SAP by 41.3% in the 4th quarter. Deutsche Bank AG now owns 4,773 shares of the software maker’s stock valued at $1,175,000 after acquiring an additional 1,396 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of SAP by 26.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,152 shares of the software maker’s stock valued at $530,000 after acquiring an additional 452 shares in the last quarter. Nomura Holdings Inc. bought a new position in SAP during the fourth quarter worth $1,301,000. Finally, Raiffeisen Bank International AG bought a new stake in SAP during the fourth quarter valued at $153,000.

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.