Investment analysts at Piper Sandler initiated coverage on shares of SAP (NYSE:SAP – Get Free Report) in a research note issued on Tuesday, Marketbeat.com reports. The firm set an “overweight” rating on the software maker’s stock.
SAP has been the subject of several other reports. Wells Fargo & Company began coverage on SAP in a report on Tuesday, May 20th. They issued an “overweight” rating for the company. Jefferies Financial Group reiterated a “buy” rating on shares of SAP in a research report on Friday, May 2nd. UBS Group upgraded shares of SAP to a “strong-buy” rating in a report on Friday, May 30th. BMO Capital Markets lifted their price target on shares of SAP from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, May 23rd. Finally, Barclays reiterated an “overweight” rating and issued a $308.00 price target (up previously from $286.00) on shares of SAP in a report on Thursday, April 24th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, SAP presently has an average rating of “Buy” and an average price target of $271.83.
View Our Latest Research Report on SAP
SAP Stock Down 0.9%
SAP (NYSE:SAP – Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The software maker reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.12. SAP had a net margin of 16.33% and a return on equity of 13.66%. The company had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Analysts expect that SAP will post 6.55 EPS for the current year.
Institutional Investors Weigh In On SAP
A number of institutional investors and hedge funds have recently made changes to their positions in SAP. Principal Street Partners LLC increased its position in SAP by 1.0% during the fourth quarter. Principal Street Partners LLC now owns 3,688 shares of the software maker’s stock worth $908,000 after buying an additional 35 shares during the last quarter. Independent Advisor Alliance boosted its stake in shares of SAP by 0.4% during the 1st quarter. Independent Advisor Alliance now owns 9,957 shares of the software maker’s stock worth $2,673,000 after acquiring an additional 35 shares during the period. Cordatus Wealth Management LLC increased its holdings in shares of SAP by 1.1% during the 1st quarter. Cordatus Wealth Management LLC now owns 3,310 shares of the software maker’s stock worth $889,000 after acquiring an additional 37 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in SAP by 4.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 955 shares of the software maker’s stock valued at $235,000 after acquiring an additional 38 shares during the period. Finally, Alaethes Wealth LLC raised its stake in SAP by 0.4% in the 4th quarter. Alaethes Wealth LLC now owns 11,087 shares of the software maker’s stock valued at $2,730,000 after acquiring an additional 39 shares during the period.
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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