$6.47 Billion in Sales Expected for SAP SE (SAP) This Quarter
Brokerages expect that SAP SE (NYSE:SAP) will post sales of $6.47 billion for the current quarter, Zacks reports. Five analysts have provided estimates for SAP SE’s earnings, with estimates ranging from $6.29 billion to $6.57 billion. SAP SE posted sales of $6.00 billion during the same quarter last year, which suggests a positive year over year growth rate of 7.8%. The firm is scheduled to announce its next quarterly earnings results on Friday, October 20th.
According to Zacks, analysts expect that SAP SE will report full year sales of $6.47 billion for the current financial year, with estimates ranging from $26.75 billion to $27.39 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $28.79 billion per share, with estimates ranging from $28.11 billion to $29.22 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover SAP SE.
A number of research analysts have commented on SAP shares. Cowen and Company reaffirmed an “outperform” rating and set a $110.00 price target (up previously from $105.00) on shares of SAP SE in a research report on Saturday, April 29th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of SAP SE in a research report on Monday, June 26th. Royal Bank Of Canada upped their price target on SAP SE from $102.00 to $106.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 18th. CIBC upped their price target on SAP SE from $107.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, June 12th. Finally, Berenberg Bank initiated coverage on SAP SE in a research report on Wednesday. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $95.69.
SAP SE (SAP) traded up 0.49% during trading on Thursday, hitting $105.12. The stock had a trading volume of 378,662 shares. The company has a market cap of $126.03 billion, a price-to-earnings ratio of 31.15 and a beta of 1.12. SAP SE has a 52 week low of $80.93 and a 52 week high of $108.72. The company has a 50-day moving average of $105.21 and a 200 day moving average of $101.43.
SAP SE announced that its board has authorized a stock repurchase program on Thursday, July 20th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Several hedge funds have recently bought and sold shares of SAP. Morgan Stanley increased its stake in SAP SE by 101.2% in the first quarter. Morgan Stanley now owns 1,659,689 shares of the software maker’s stock valued at $162,933,000 after buying an additional 834,600 shares during the last quarter. Bank of America Corp DE increased its stake in SAP SE by 37.3% in the first quarter. Bank of America Corp DE now owns 2,565,236 shares of the software maker’s stock valued at $251,830,000 after buying an additional 696,447 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in SAP SE by 10,198.2% in the second quarter. Harbour Capital Advisors LLC now owns 478,865 shares of the software maker’s stock valued at $4,575,000 after buying an additional 474,215 shares during the last quarter. FMR LLC boosted its position in SAP SE by 6,475.0% in the second quarter. FMR LLC now owns 396,409 shares of the software maker’s stock valued at $41,493,000 after buying an additional 390,380 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in SAP SE by 42.9% in the first quarter. Russell Investments Group Ltd. now owns 943,717 shares of the software maker’s stock valued at $92,649,000 after buying an additional 283,230 shares during the period. Institutional investors own 3.71% of the company’s stock.
About SAP SE
SAP SE (SAP) is a software and service provider. The Company offers enterprise application software. The Company operates through two segments: Applications, Technology & Services segment, and the SAP Business Network segment. The Applications, Technology & Services segment is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (primarily support services and various professional services, and support services, as well as implementation services of its software products and education services on the use of its products).
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