SAP (NYSE:SAP – Free Report) had its price target decreased by TD Cowen from $230.00 to $210.00 in a report published on Friday morning,Benzinga reports. TD Cowen currently has a buy rating on the software maker’s stock.
SAP has been the subject of a number of other reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of SAP in a research note on Tuesday, March 24th. BMO Capital Markets lowered their price objective on shares of SAP from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Barclays boosted their target price on SAP from $256.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Weiss Ratings upgraded SAP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $265.00 price target on shares of SAP in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $271.17.
View Our Latest Research Report on SAP
SAP Price Performance
SAP (NYSE:SAP – Get Free Report) last announced its earnings results on Friday, February 27th. The software maker reported $1.99 earnings per share (EPS) for the quarter. The firm had revenue of $11.06 billion during the quarter. SAP had a net margin of 20.08% and a return on equity of 17.31%. Equities analysts expect that SAP will post 8.3 EPS for the current year.
Hedge Funds Weigh In On SAP
Several large investors have recently made changes to their positions in the business. Brighton Jones LLC lifted its stake in SAP by 91.1% during the fourth quarter. Brighton Jones LLC now owns 2,633 shares of the software maker’s stock valued at $648,000 after purchasing an additional 1,255 shares during the last quarter. Baird Financial Group Inc. acquired a new position in SAP in the first quarter worth approximately $242,000. AQR Capital Management LLC increased its holdings in shares of SAP by 49.0% in the first quarter. AQR Capital Management LLC now owns 16,309 shares of the software maker’s stock valued at $4,378,000 after buying an additional 5,363 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of SAP in the first quarter valued at $2,681,000. Finally, Sivia Capital Partners LLC lifted its position in shares of SAP by 2.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,050 shares of the software maker’s stock valued at $928,000 after acquiring an additional 69 shares during the last quarter.
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.
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