SAP (NYSE:SAP) Price Target Raised to $252.00 at Barclays

SAP (NYSE:SAP) had its price target boosted by Barclays from $251.00 to $252.00 in a report issued on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the software maker’s stock.

Several other brokerages have also issued reports on SAP. TD Cowen raised their target price on shares of SAP from $188.00 to $214.00 and gave the company a hold rating in a research note on Tuesday, July 23rd. Argus raised shares of SAP from a hold rating to a buy rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their target price on shares of SAP from $237.00 to $248.00 and gave the company an outperform rating in a research note on Tuesday, July 23rd. Finally, JMP Securities lifted their price target on SAP from $220.00 to $245.00 and gave the stock a market outperform rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $232.17.

SAP Stock Performance

NYSE SAP opened at $220.46 on Monday. SAP has a 52-week low of $127.30 and a 52-week high of $231.13. The firm has a market capitalization of $270.84 billion, a price-to-earnings ratio of 47.82, a P/E/G ratio of 4.38 and a beta of 1.25. The company’s fifty day moving average is $216.80 and its two-hundred day moving average is $200.80. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

SAP (NYSE:SAP) last announced its quarterly earnings results on Monday, July 22nd. The software maker reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. SAP had a return on equity of 10.98% and a net margin of 7.74%. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts forecast that SAP will post 4.78 EPS for the current year.

Hedge Funds Weigh In On SAP

A number of hedge funds have recently bought and sold shares of the business. Canandaigua National Bank & Trust Co. raised its position in shares of SAP by 54.3% in the third quarter. Canandaigua National Bank & Trust Co. now owns 4,071 shares of the software maker’s stock valued at $933,000 after buying an additional 1,432 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of SAP by 109.5% during the 3rd quarter. SG Americas Securities LLC now owns 18,425 shares of the software maker’s stock valued at $4,221,000 after acquiring an additional 9,629 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of SAP during the 2nd quarter worth $9,361,000. EP Wealth Advisors LLC lifted its holdings in shares of SAP by 21.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,694 shares of the software maker’s stock worth $342,000 after acquiring an additional 303 shares during the period. Finally, Wallace Advisory Group LLC lifted its position in shares of SAP by 7.6% during the 2nd quarter. Wallace Advisory Group LLC now owns 1,794 shares of the software maker’s stock worth $362,000 after buying an additional 127 shares during the last quarter.

About SAP

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.