SAP (NYSE:SAP) Stock Rating Upgraded by TD Cowen

SAP (NYSE:SAP) was upgraded by research analysts at TD Cowen from a “hold” rating to a “buy” rating in a research report issued on Friday, Marketbeat reports. The brokerage presently has a $305.00 price target on the software maker’s stock, up from their previous price target of $240.00. TD Cowen’s price target indicates a potential upside of 16.09% from the stock’s current price.

A number of other research firms have also recently weighed in on SAP. JMP Securities upped their price target on SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 22nd. Barclays increased their target price on SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. BMO Capital Markets boosted their price target on shares of SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Kepler Capital Markets raised shares of SAP from a “hold” rating to a “buy” rating in a report on Wednesday. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $263.17.

SAP Price Performance

Shares of NYSE SAP opened at $262.74 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $322.77 billion, a price-to-earnings ratio of 105.09, a PEG ratio of 3.56 and a beta of 1.22. The firm’s 50 day simple moving average is $245.68 and its 200-day simple moving average is $227.91. SAP has a 12 month low of $158.94 and a 12 month high of $264.71.

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

Institutional Trading of SAP

A number of hedge funds have recently bought and sold shares of the business. FMR LLC increased its holdings in shares of SAP by 22.3% in the third quarter. FMR LLC now owns 10,246,279 shares of the software maker’s stock valued at $2,347,422,000 after purchasing an additional 1,866,468 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of SAP in the 3rd quarter worth $40,573,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of SAP by 644.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,330 shares of the software maker’s stock worth $37,648,000 after acquiring an additional 142,270 shares during the period. Marshall Wace LLP acquired a new position in shares of SAP during the 2nd quarter valued at about $21,479,000. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of SAP in the third quarter valued at about $17,376,000.

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.