TD Cowen Issues Pessimistic Forecast for SAP (NYSE:SAP) Stock Price

SAP (NYSE:SAP) had its price target lowered by TD Cowen from $230.00 to $210.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. TD Cowen’s price objective would indicate a potential upside of 32.00% from the company’s current price.

A number of other analysts have also commented on the company. Weiss Ratings raised SAP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 30th. Barclays boosted their price objective on shares of SAP from $256.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. HSBC upgraded shares of SAP from a “hold” rating to a “buy” rating in a report on Wednesday, April 22nd. Wall Street Zen lowered shares of SAP from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $265.00 price target on shares of SAP in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $271.17.

SAP Trading Down 1.6%

SAP opened at $159.09 on Friday. The business has a 50 day simple moving average of $166.86 and a two-hundred day simple moving average of $187.55. The firm has a market capitalization of $195.44 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.82 and a beta of 1.14. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.07 and a quick ratio of 1.07. SAP has a one year low of $148.06 and a one year high of $309.73.

SAP (NYSE:SAP) last issued its quarterly earnings data on Friday, February 27th. The software maker reported $1.99 earnings per share for the quarter. SAP had a return on equity of 17.31% and a net margin of 20.08%.The firm had revenue of $11.06 billion for the quarter. Analysts predict that SAP will post 8.3 EPS for the current year.

Institutional Investors Weigh In On SAP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAP. Investors Research Corp raised its holdings in SAP by 5,409.1% in the second quarter. Investors Research Corp now owns 3,030 shares of the software maker’s stock worth $467,000 after purchasing an additional 2,975 shares in the last quarter. Cardinal Capital Management Inc. boosted its holdings in shares of SAP by 1.0% during the 2nd quarter. Cardinal Capital Management Inc. now owns 90,961 shares of the software maker’s stock valued at $14,018,000 after buying an additional 915 shares in the last quarter. Nolet Wealth Management LLC bought a new stake in shares of SAP during the 2nd quarter valued at $257,000. Fulton Bank N.A. grew its position in shares of SAP by 130.6% in the 2nd quarter. Fulton Bank N.A. now owns 2,779 shares of the software maker’s stock worth $428,000 after buying an additional 1,574 shares during the period. Finally, First Bank & Trust purchased a new stake in shares of SAP in the 2nd quarter worth about $245,000.

About SAP

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.