SAP (NYSE:SAP) Given New $283.00 Price Target at Barclays

SAP (NYSE:SAP) had its price target upped by Barclays from $275.00 to $283.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

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

SAP Stock Up 0.8 %

SAP stock opened at $275.30 on Thursday. SAP has a 52-week low of $172.32 and a 52-week high of $275.38. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a 50 day moving average price of $247.76 and a two-hundred day moving average price of $229.46. The firm has a market cap of $338.20 billion, a price-to-earnings ratio of 110.12, a PEG ratio of 3.82 and a beta of 1.22.

SAP (NYSE:SAP) last released its earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.08). SAP had a net margin of 8.15% and a return on equity of 11.44%. The firm had revenue of $8.47 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. SAP’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts predict that SAP will post 4.66 EPS for the current year.

Hedge Funds Weigh In On SAP

Hedge funds have recently bought and sold shares of the company. Caprock Group LLC boosted its holdings in SAP by 19.5% during the fourth quarter. Caprock Group LLC now owns 18,310 shares of the software maker’s stock worth $4,508,000 after purchasing an additional 2,987 shares during the last quarter. AA Financial Advisors LLC purchased a new position in shares of SAP in the 4th quarter worth approximately $378,000. First Affirmative Financial Network grew its holdings in shares of SAP by 6.0% in the fourth quarter. First Affirmative Financial Network now owns 6,876 shares of the software maker’s stock valued at $1,693,000 after acquiring an additional 388 shares in the last quarter. Abel Hall LLC increased its position in shares of SAP by 3.3% during the fourth quarter. Abel Hall LLC now owns 1,892 shares of the software maker’s stock valued at $466,000 after acquiring an additional 60 shares during the last quarter. Finally, Gries Financial LLC purchased a new position in SAP in the fourth quarter worth $237,000.

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.