SAP (NYSE:SAP) Rating Increased to Buy at TD Cowen

TD Cowen upgraded shares of SAP (NYSE:SAP - Free Report) from a hold rating to a buy rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. TD Cowen currently has $305.00 price objective on the software maker's stock, up from their previous price objective of $240.00.

Several other research firms have also recently commented on SAP. Barclays boosted their price target on SAP from $252.00 to $275.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. JMP Securities increased their target price on SAP from $245.00 to $300.00 and gave the company a "market outperform" rating in a research note on Tuesday, October 22nd. Kepler Capital Markets upgraded shares of SAP from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, BMO Capital Markets increased their price objective on shares of SAP from $248.00 to $265.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $263.17.

SAP Stock Up 0.4 %

NYSE SAP traded up $1.16 on Friday, reaching $262.74. The company had a trading volume of 799,030 shares, compared to its average volume of 846,095. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10. SAP has a 1 year low of $158.94 and a 1 year high of $264.71. The firm has a 50-day moving average of $245.68 and a 200-day moving average of $227.91. The firm has a market capitalization of $322.77 billion, a PE ratio of 105.09, a P/E/G ratio of 3.56 and a beta of 1.22.

SAP (NYSE:SAP - Get Free Report) last announced its earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share 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 analysts' expectations of $9.25 billion. During the same quarter last year, the company posted $1.20 earnings per share. SAP's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that SAP will post 4.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SAP. FMR LLC boosted its stake in SAP by 22.3% in the third quarter. FMR LLC now owns 10,246,279 shares of the software maker's stock valued at $2,347,422,000 after acquiring an additional 1,866,468 shares during the period. International Assets Investment Management LLC bought a new stake in shares of SAP in the 3rd quarter worth approximately $40,573,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in SAP by 644.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,330 shares of the software maker's stock valued at $37,648,000 after purchasing an additional 142,270 shares during the period. Marshall Wace LLP bought a new position in SAP during the 2nd quarter worth $21,479,000. Finally, Mediolanum International Funds Ltd acquired a new stake in SAP in the third quarter worth $17,376,000.

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.