Barclays Forecasts Strong Price Appreciation for SAP (NYSE:SAP) Stock

SAP (NYSE:SAP) had its price objective hoisted by research analysts at Barclays from $275.00 to $283.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Barclays‘s target price indicates a potential upside of 2.39% from the stock’s previous close.

Several other analysts have also recently commented on SAP. TD Cowen raised shares of SAP from a “hold” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $305.00 in a research note on Friday, January 17th. Kepler Capital Markets raised shares of SAP from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. BMO Capital Markets lifted their price target on shares of SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, JMP Securities lifted their price target on shares of SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a report on Tuesday, October 22nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $264.50.

SAP Stock Up 0.4 %

SAP stock opened at $276.41 on Thursday. The stock has a market capitalization of $339.56 billion, a P/E ratio of 110.56, a PEG ratio of 3.89 and a beta of 1.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10. SAP has a one year low of $172.32 and a one year high of $277.36. The company has a 50 day moving average price of $248.64 and a two-hundred day moving average price of $229.78.

Hedge Funds Weigh In On SAP

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Optas LLC lifted its holdings in shares of SAP by 4.9% during the 4th quarter. Optas LLC now owns 3,276 shares of the software maker’s stock valued at $807,000 after acquiring an additional 154 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of SAP during the 4th quarter valued at $47,195,000. Resonant Capital Advisors LLC lifted its holdings in shares of SAP by 6.2% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,600 shares of the software maker’s stock valued at $394,000 after acquiring an additional 94 shares in the last quarter. Brentview Investment Management LLC acquired a new position in shares of SAP during the 4th quarter valued at $238,000. Finally, Catalina Capital Group LLC purchased a new stake in SAP during the 4th quarter worth $204,000.

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.