Barclays Forecasts Strong Price Appreciation for SAP (NYSE:SAP) Stock

SAP (NYSE:SAP) had its price target increased by Barclays from $275.00 to $283.00 in a report published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the software maker’s stock.

Several other equities analysts also recently weighed in on the stock. Kepler Capital Markets upgraded shares of SAP from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. BMO Capital Markets lifted their price objective 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. TD Cowen upgraded SAP from a “hold” rating to a “buy” rating and increased their target price for the stock from $240.00 to $305.00 in a research report on Friday, January 17th. Finally, JMP Securities lifted their price target on SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SAP presently has a consensus rating of “Buy” and an average price target of $264.50.

SAP Price Performance

Shares of NYSE SAP opened at $275.30 on Thursday. The firm has a market cap of $338.20 billion, a price-to-earnings ratio of 110.12, a price-to-earnings-growth ratio of 3.82 and a beta of 1.22. The stock has a fifty day simple moving average of $247.76 and a two-hundred day simple moving average of $229.46. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. SAP has a 1-year low of $172.32 and a 1-year high of $275.38.

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

Hedge Funds Weigh In On SAP

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Holocene Advisors LP bought a new position in shares of SAP during the third quarter valued at $10,869,000. Atomi Financial Group Inc. lifted its holdings in shares of SAP by 38.9% during the fourth quarter. Atomi Financial Group Inc. now owns 12,486 shares of the software maker’s stock valued at $3,074,000 after purchasing an additional 3,495 shares in the last quarter. JPMorgan Chase & Co. raised its position in SAP by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 548,469 shares of the software maker’s stock worth $125,654,000 after buying an additional 7,667 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of SAP by 1,496.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 8,940 shares of the software maker’s stock valued at $2,048,000 after buying an additional 8,380 shares during the period. Finally, Creative Planning grew its position in SAP by 18.0% during the third quarter. Creative Planning now owns 95,434 shares of the software maker’s stock valued at $21,864,000 after buying an additional 14,546 shares during the period.

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.