SAP (NYSE:SAP – Get Free Report) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a research note issued on Wednesday, FinViz reports.
A number of other research firms also recently issued reports on SAP. JMP Securities boosted their price objective on shares of SAP from $220.00 to $245.00 and gave the company a “market outperform” rating in a report on Tuesday, July 23rd. TD Cowen boosted their target price on shares of SAP from $188.00 to $214.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. BMO Capital Markets boosted their target price on shares of SAP from $237.00 to $248.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Sanford C. Bernstein initiated coverage on shares of SAP in a research report on Thursday, May 23rd. They issued an “outperform” rating and a $227.00 target price for the company. Finally, Barclays dropped their target price on shares of SAP from $212.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, SAP currently has an average rating of “Moderate Buy” and an average target price of $225.17.
Check Out Our Latest Stock Report on SAP
SAP Trading Up 1.6 %
SAP (NYSE:SAP – Get Free Report) last announced its earnings results on Monday, July 22nd. The software maker reported $1.10 EPS for the quarter, topping the consensus estimate of $1.01 by $0.09. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.25 billion. SAP had a net margin of 7.74% and a return on equity of 10.98%. SAP’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 EPS. As a group, sell-side analysts anticipate that SAP will post 4.75 EPS for the current year.
Hedge Funds Weigh In On SAP
A number of institutional investors have recently added to or reduced their stakes in the stock. Modera Wealth Management LLC increased its position in SAP by 1.4% during the 2nd quarter. Modera Wealth Management LLC now owns 3,736 shares of the software maker’s stock worth $754,000 after purchasing an additional 50 shares in the last quarter. Great Valley Advisor Group Inc. grew its holdings in SAP by 3.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 1,488 shares of the software maker’s stock worth $300,000 after acquiring an additional 51 shares during the last quarter. RFP Financial Group LLC grew its holdings in SAP by 17.5% during the 2nd quarter. RFP Financial Group LLC now owns 349 shares of the software maker’s stock worth $70,000 after acquiring an additional 52 shares during the last quarter. Bessemer Group Inc. grew its holdings in SAP by 32.6% during the 1st quarter. Bessemer Group Inc. now owns 252 shares of the software maker’s stock worth $49,000 after acquiring an additional 62 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. grew its holdings in SAP by 2.6% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,509 shares of the software maker’s stock worth $388,000 after acquiring an additional 63 shares during 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.
See Also
- Five stocks we like better than SAP
- Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
- Conviction Firms for Microsoft’s Double-Digit Stock Upside
- Top Stocks Investing in 5G Technology
- 5 Aggressive Growth Stocks for Long-Term Investors
- 5 discounted opportunities for dividend growth investors
- Invest Like Congress: 2 ETFs to Add to Your Watchlist
Receive News & Ratings for SAP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SAP and related companies with MarketBeat.com's FREE daily email newsletter.