SAP (NYSE:SAP) Given Market Outperform Rating at JMP Securities

Key Points

• SAP has received a "market outperform" rating from JMP Securities, with a target price of $375.00, suggesting a potential upside of 35.55% from its current stock price.
• Recent quarterly earnings revealed that SAP exceeded analysts' expectations with an EPS of $1.86, up from $1.23 in the same quarter last year, and had revenue of $10.54 billion.
• Despite a "Hold" rating from Erste Group Bank, the overall consensus remains positive with multiple firms maintaining "Buy" or "Overweight" ratings on SAP's stock.

SAP (NYSE:SAP - Get Free Report)'s stock had its "market outperform" rating reissued by analysts at JMP Securities in a research note issued on Thursday,Benzinga reports. They currently have a $375.00 price objective on the software maker's stock. JMP Securities' price objective indicates a potential upside of 35.55% from the company's current price.

Several other research firms have also recently weighed in on SAP. Erste Group Bank cut SAP from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. KeyCorp restated an "overweight" rating on shares of SAP in a research note on Thursday. Barclays reaffirmed an "overweight" rating and issued a $322.00 price objective (up previously from $308.00) on shares of SAP in a report on Friday, July 25th. Jefferies Financial Group reaffirmed a "buy" rating on shares of SAP in a report on Tuesday, September 16th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of SAP in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $280.00.

SAP Trading Down 1.4%

SAP opened at $276.64 on Thursday. The stock has a market cap of $339.85 billion, a PE ratio of 45.80, a PEG ratio of 4.16 and a beta of 1.28. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $269.60 and a 200-day moving average of $282.71. SAP has a 52 week low of $227.52 and a 52 week high of $313.28.

SAP (NYSE:SAP - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The software maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.17. The business had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $9.10 billion. SAP had a return on equity of 14.84% and a net margin of 18.26%.The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 earnings per share. Equities research analysts predict that SAP will post 6.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SAP

Hedge funds have recently made changes to their positions in the business. Central Pacific Bank Trust Division bought a new position in shares of SAP in the second quarter worth about $920,000. Modern Wealth Management LLC boosted its stake in shares of SAP by 292.2% in the first quarter. Modern Wealth Management LLC now owns 4,663 shares of the software maker's stock worth $1,252,000 after acquiring an additional 3,474 shares during the period. Ascent Group LLC lifted its position in shares of SAP by 196.3% in the first quarter. Ascent Group LLC now owns 4,175 shares of the software maker's stock worth $1,121,000 after buying an additional 2,766 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of SAP by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker's stock worth $354,048,000 after buying an additional 80,164 shares in the last quarter. Finally, Bain Capital Public Equity Management II LLC purchased a new stake in shares of SAP in the first quarter worth about $13,869,000.

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.

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