SAP (NYSE:SAP) Downgraded to “Hold” Rating by Wall Street Zen

SAP (NYSE:SAP) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Tuesday.

A number of other equities analysts have also weighed in on SAP. Morgan Stanley reiterated an “overweight” rating on shares of SAP in a research note on Friday, October 31st. Piper Sandler began coverage on SAP in a research report on Tuesday, February 3rd. They set an “overweight” rating for the company. BMO Capital Markets restated an “outperform” rating on shares of SAP in a research report on Friday, January 30th. Arete Research upgraded shares of SAP to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, TD Cowen restated a “buy” rating on shares of SAP in a research report on Friday, January 30th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.75.

SAP Trading Down 3.0%

Shares of NYSE:SAP opened at $196.60 on Tuesday. The business has a 50-day moving average price of $226.66 and a 200-day moving average price of $249.55. The stock has a market cap of $241.52 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 2.25 and a beta of 1.17. SAP has a 52-week low of $189.22 and a 52-week high of $313.28. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 0.13.

SAP (NYSE:SAP) last released its quarterly earnings data on Thursday, January 29th. The software maker reported $1.90 EPS for the quarter, beating the consensus estimate of $1.77 by $0.13. The business had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $9.77 billion. SAP had a net margin of 19.92% and a return on equity of 16.52%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS. Equities analysts predict that SAP will post 6.55 EPS for the current year.

Hedge Funds Weigh In On SAP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAP. Virtu Financial LLC acquired a new stake in SAP in the 4th quarter valued at about $584,000. Invesco Ltd. grew its position in shares of SAP by 8.0% in the fourth quarter. Invesco Ltd. now owns 41,461 shares of the software maker’s stock valued at $10,071,000 after purchasing an additional 3,080 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of SAP by 2.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 54,134 shares of the software maker’s stock valued at $13,150,000 after purchasing an additional 1,082 shares during the last quarter. Beacon Pointe Advisors LLC lifted its position in SAP by 20.0% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,104 shares of the software maker’s stock worth $754,000 after buying an additional 518 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in SAP by 50.1% during the fourth quarter. First Citizens Bank & Trust Co. now owns 1,324 shares of the software maker’s stock worth $322,000 after buying an additional 442 shares in the last quarter.

SAP Company Profile

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company’s name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP’s product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.