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

SAP (NYSE:SAP) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the stock. Barclays reiterated an “overweight” rating and issued a $322.00 price target (up from $308.00) on shares of SAP in a research report on Friday, July 25th. Piper Sandler initiated coverage on SAP in a research report on Tuesday, June 17th. They issued an “overweight” rating on the stock. Erste Group Bank downgraded shares of SAP from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Wells Fargo & Company initiated coverage on SAP in a report on Tuesday, May 20th. They issued an “overweight” rating for the company. Finally, Argus restated a “buy” rating and issued a $320.00 price objective on shares of SAP in a report on Tuesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, SAP has an average rating of “Buy” and an average target price of $281.67.

SAP Stock Up 0.7%

NYSE SAP opened at $270.9640 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. SAP has a 1-year low of $210.38 and a 1-year high of $313.28. The company has a 50 day moving average of $292.38 and a 200-day moving average of $284.98. The company has a market cap of $332.88 billion, a price-to-earnings ratio of 44.86, a PEG ratio of 3.87 and a beta of 1.27.

SAP (NYSE:SAP) last released its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. SAP had a net margin of 18.26% and a return on equity of 14.84%. The company had revenue of $10.58 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the previous year, the business earned $1.10 earnings per share. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities research analysts expect that SAP will post 6.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SAP

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAP. Bartlett & CO. Wealth Management LLC increased its stake in shares of SAP by 585.7% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker’s stock worth $26,000 after purchasing an additional 82 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in SAP in the 2nd quarter valued at $31,000. Creative Financial Designs Inc. ADV boosted its holdings in SAP by 153.5% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker’s stock valued at $29,000 after purchasing an additional 66 shares during the period. Princeton Global Asset Management LLC purchased a new stake in shares of SAP during the 2nd quarter valued at $38,000. Finally, Motco raised its position in shares of SAP by 400.0% during the 2nd quarter. Motco now owns 125 shares of the software maker’s stock valued at $36,000 after buying an additional 100 shares in the last quarter.

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.