SAP (NYSE:SAP – Free Report) had its target price increased by JMP Securities from $220.00 to $245.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a market outperform rating on the software maker’s stock.
SAP has been the subject of several other reports. BMO Capital Markets upgraded SAP from a market perform rating to an outperform rating and lifted their price target for the company from $218.00 to $237.00 in a research report on Friday, June 28th. Barclays lowered their price target on shares of SAP from $212.00 to $210.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. Sanford C. Bernstein began coverage on shares of SAP in a research report on Thursday, May 23rd. They issued an outperform rating and a $227.00 price objective for the company. Finally, StockNews.com cut shares of SAP from a strong-buy rating to a buy rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $225.17.
Check Out Our Latest Stock Report on SAP
SAP Trading Up 1.3 %
SAP (NYSE:SAP – Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The software maker reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.25 billion. SAP had a net margin of 7.74% and a return on equity of 10.87%. The company’s quarterly 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 earnings per share. As a group, research analysts forecast that SAP will post 4.63 EPS for the current year.
Institutional Trading of SAP
A number of hedge funds have recently made changes to their positions in SAP. LRI Investments LLC purchased a new stake in SAP during the first quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of SAP during the 1st quarter valued at about $25,000. POM Investment Strategies LLC raised its holdings in shares of SAP by 892.3% during the 2nd quarter. POM Investment Strategies LLC now owns 129 shares of the software maker’s stock valued at $26,000 after buying an additional 116 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in SAP in the first quarter worth approximately $29,000. Finally, Geneos Wealth Management Inc. boosted its stake in SAP by 254.2% in the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the software maker’s stock worth $33,000 after buying an additional 122 shares in 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.
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