TD Cowen Raises SAP (NYSE:SAP) Price Target to $240.00

SAP (NYSE:SAP) had its price target raised by research analysts at TD Cowen from $234.00 to $240.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the software maker’s stock. TD Cowen’s price objective would indicate a potential upside of 3.42% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets increased 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. JMP Securities raised 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. Argus raised SAP from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, Barclays raised their target price on SAP from $251.00 to $252.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $248.50.

SAP Stock Performance

SAP stock traded up $2.58 during trading on Tuesday, reaching $232.06. 1,608,344 shares of the stock were exchanged, compared to its average volume of 789,623. SAP has a twelve month low of $130.08 and a twelve month high of $237.72. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $285.09 billion, a P/E ratio of 50.21, a price-to-earnings-growth ratio of 4.37 and a beta of 1.25. The stock has a 50 day simple moving average of $221.85 and a 200-day simple moving average of $203.77.

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 for the quarter, compared to analyst estimates of $9.25 billion. SAP had a return on equity of 10.98% and a net margin of 7.74%. SAP’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 EPS. As a group, sell-side analysts anticipate that SAP will post 4.84 earnings per share for the current year.

Hedge Funds Weigh In On SAP

Institutional investors and hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC lifted its position in SAP by 6.4% during the 3rd quarter. Private Advisor Group LLC now owns 4,310 shares of the software maker’s stock worth $987,000 after buying an additional 260 shares in the last quarter. Waldron Private Wealth LLC bought a new position in shares of SAP in the third quarter worth about $259,000. Eastern Bank acquired a new position in shares of SAP during the third quarter worth approximately $136,000. Signaturefd LLC grew its stake in shares of SAP by 5.2% during the third quarter. Signaturefd LLC now owns 19,822 shares of the software maker’s stock valued at $4,541,000 after purchasing an additional 982 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of SAP by 5.3% in the third quarter. Sequoia Financial Advisors LLC now owns 11,032 shares of the software maker’s stock valued at $2,528,000 after purchasing an additional 560 shares in the last quarter.

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.