SAP SE (SAP) Shares Gap Down to $88.09
SAP SE (NYSE:SAP)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $87.72, but opened at $88.09. SAP SE shares last traded at $88.99, with a volume of 492,596 shares traded.
SAP has been the topic of a number of research reports. Morgan Stanley reaffirmed a “buy” rating on shares of SAP SE in a research report on Monday, July 18th. DZ Bank AG reaffirmed a “buy” rating on shares of SAP SE in a research report on Thursday, July 14th. Berenberg Bank reaffirmed a “buy” rating on shares of SAP SE in a research report on Tuesday, July 5th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of SAP SE in a research report on Thursday, June 30th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $90.00 target price (up from $85.00) on shares of SAP SE in a research report on Wednesday, June 29th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $82.75.
The firm has a 50-day moving average of $87.90 and a 200-day moving average of $81.29. The stock has a market capitalization of $106.69 billion, a P/E ratio of 26.66 and a beta of 1.40.
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SAP SE (NYSE:SAP) last released its earnings results on Wednesday, July 20th. The company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.13. SAP SE had a return on equity of 16.92% and a net margin of 16.76%. Analysts forecast that SAP SE will post $4.38 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its position in SAP SE by 915.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 63,419 shares of the company’s stock worth $4,758,000 after buying an additional 57,172 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in SAP SE during the second quarter worth approximately $435,000. Wolverine Asset Management LLC purchased a new position in SAP SE during the second quarter worth approximately $1,740,000. Lincluden Management Ltd. boosted its position in SAP SE by 6.9% in the second quarter. Lincluden Management Ltd. now owns 92,838 shares of the company’s stock worth $6,965,000 after buying an additional 6,005 shares during the last quarter. Finally, Howe & Rusling Inc. boosted its position in SAP SE by 0.5% in the second quarter. Howe & Rusling Inc. now owns 1,544 shares of the company’s stock worth $116,000 after buying an additional 7 shares during the last quarter. Institutional investors own 3.58% of the company’s stock.
SAP SE Company Profile
SAP SE (SAP), formerly SAP AG, is engaged in business application and analytics software. The Company is also engaged in digital commerce and is an enterprise cloud company. Its segments include Applications, Technology & Services segment, which is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (mainly support services and various professional services and premium support services, as well as implementation services of its software products and education services on the use of its products), and SAP Business Network Segment, which includes a network of networks, which covers sourcing, procurement, and travel and expenses.
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