SAP (NYSE:SAP) Upgraded at Zacks Research

SAP (NYSE:SAP) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on SAP. Arete Research raised SAP to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays set a $283.00 price objective on SAP in a report on Monday. Piper Sandler initiated coverage on shares of SAP in a report on Tuesday. They set an “overweight” rating for the company. TD Cowen reiterated a “buy” rating on shares of SAP in a research report on Friday, January 30th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of SAP in a research note on Monday, October 27th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.75.

SAP Stock Down 1.1%

SAP stock opened at $197.39 on Wednesday. SAP has a 52 week low of $189.22 and a 52 week high of $313.28. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $236.33 and a 200-day simple moving average of $257.32. The stock has a market capitalization of $242.50 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.18 and a beta of 1.17.

SAP (NYSE:SAP) last posted its quarterly earnings data on Thursday, January 29th. The software maker reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.13. SAP had a return on equity of 16.52% and a net margin of 19.92%.The company had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the previous year, the firm posted $1.40 EPS. SAP’s revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that SAP will post 6.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SAP

A number of hedge funds have recently modified their holdings of the company. First PREMIER Bank acquired a new stake in SAP during the third quarter worth about $25,000. Retirement Wealth Solutions LLC grew its stake in shares of SAP by 246.4% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 97 shares of the software maker’s stock valued at $26,000 after buying an additional 69 shares during the period. Sound Income Strategies LLC grew its stake in shares of SAP by 109.4% in the 4th quarter. Sound Income Strategies LLC now owns 111 shares of the software maker’s stock valued at $26,000 after buying an additional 58 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of SAP during the 3rd quarter worth approximately $27,000. Finally, Copia Wealth Management purchased a new stake in shares of SAP during the 3rd quarter valued at approximately $28,000.

About SAP

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company’s name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP’s product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.