SAP (NYSE:SAP) Sets New 52-Week High After Analyst Upgrade

SAP SE (NYSE:SAP)’s share price hit a new 52-week high during mid-day trading on Tuesday after TD Cowen raised their price target on the stock from $234.00 to $240.00. TD Cowen currently has a hold rating on the stock. SAP traded as high as $237.72 and last traded at $237.61, with a volume of 416003 shares. The stock had previously closed at $229.48.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets raised their price objective on shares of SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a research note on Tuesday. Barclays raised their price objective on shares of SAP from $251.00 to $252.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Argus upgraded shares of SAP from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, JMP Securities lifted their price target on shares of SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, SAP currently has an average rating of “Moderate Buy” and a consensus target price of $248.50.

Institutional Investors Weigh In On SAP

Several institutional investors and hedge funds have recently made changes to their positions in SAP. Godsey & Gibb Inc. acquired a new position in SAP during the 3rd quarter worth about $25,000. LRI Investments LLC acquired a new position in SAP during the 1st quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new position in SAP during the 1st quarter worth about $25,000. POM Investment Strategies LLC lifted its position in SAP by 892.3% during the 2nd quarter. POM Investment Strategies LLC now owns 129 shares of the software maker’s stock worth $26,000 after buying an additional 116 shares in the last quarter. Finally, Crewe Advisors LLC lifted its position in SAP by 1,270.0% during the 2nd quarter. Crewe Advisors LLC now owns 137 shares of the software maker’s stock worth $28,000 after buying an additional 127 shares in the last quarter.

SAP Trading Up 1.2 %

The company’s 50-day moving average is $222.27 and its 200-day moving average is $204.05. The firm has a market cap of $285.41 billion, a price-to-earnings ratio of 50.39, a P/E/G ratio of 4.37 and a beta of 1.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

SAP (NYSE:SAP) last issued its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.08). SAP had a return on equity of 10.98% and a net margin of 7.74%. The company had revenue of $8.47 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the company earned $1.20 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts predict that SAP SE will post 4.84 earnings per share for the current year.

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.