SAP (NYSE:SAP) Given New $322.00 Price Target at Barclays

Key Points

• Barclays has raised its price target for SAP from $308.00 to $322.00, indicating a potential upside of 12.17% from the stock's previous close and maintaining an "overweight" rating.
• Despite recent upgrades from various analysts, including JMP Securities and BMO Capital Markets, the current consensus rating for SAP remains "Buy" with an average price target of $281.67.
• SAP reported earnings of $1.70 per share, surpassing analyst expectations, along with a revenue of $10.58 billion, which reflected an 8.9% year-over-year increase.
• The company's stock has shown significant volatility, trading between a 52-week low of $194.93 and a high of $313.28, with its market capitalization at approximately $352.67 billion.

SAP (NYSE:SAP - Get Free Report) had its price target raised by research analysts at Barclays from $308.00 to $322.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the software maker's stock. Barclays's price objective would suggest a potential upside of 12.17% from the stock's previous close.

Several other equities analysts have also recently weighed in on SAP. Piper Sandler began coverage on SAP in a report on Tuesday, June 17th. They set an "overweight" rating on the stock. JMP Securities boosted their price target on SAP from $330.00 to $375.00 and gave the company a "market outperform" rating in a report on Wednesday. Jefferies Financial Group reissued a "buy" rating on shares of SAP in a report on Friday, May 2nd. BMO Capital Markets increased their target price on shares of SAP from $320.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Finally, Argus reiterated a "buy" rating and issued a $320.00 price objective on shares of SAP in a report on Tuesday, April 29th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, SAP currently has a consensus rating of "Buy" and an average price target of $281.67.

SAP Price Performance

SAP stock traded up $0.92 during midday trading on Friday, reaching $287.08. 710,236 shares of the stock were exchanged, compared to its average volume of 1,324,365. The company has a fifty day moving average price of $300.33 and a 200 day moving average price of $282.62. SAP has a 52 week low of $194.93 and a 52 week high of $313.28. The stock has a market capitalization of $352.67 billion, a PE ratio of 47.60, a P/E/G ratio of 4.12 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.17 and a quick ratio of 1.17.

SAP (NYSE:SAP - Get Free Report) last released its earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.07. The company had revenue of $10.58 billion during the quarter, compared to analyst estimates of $9.10 billion. SAP had a return on equity of 14.77% and a net margin of 18.26%. SAP's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. As a group, analysts expect that SAP will post 6.55 EPS for the current fiscal year.

Institutional Investors Weigh In On SAP

A number of hedge funds and other institutional investors have recently modified their holdings of SAP. Contravisory Investment Management Inc. grew its holdings in shares of SAP by 3.2% during the second quarter. Contravisory Investment Management Inc. now owns 1,113 shares of the software maker's stock worth $338,000 after purchasing an additional 34 shares during the last quarter. Principal Street Partners LLC grew its stake in SAP by 1.0% in the 4th quarter. Principal Street Partners LLC now owns 3,688 shares of the software maker's stock valued at $908,000 after purchasing an additional 35 shares during the period. Independent Advisor Alliance lifted its holdings in 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 purchasing an additional 35 shares in the last quarter. Cordatus Wealth Management LLC raised its holdings in shares of SAP by 1.1% in the 1st quarter. Cordatus Wealth Management LLC now owns 3,310 shares of the software maker's stock valued at $889,000 after acquiring an additional 37 shares in the last quarter. Finally, Sage Rhino Capital LLC raised its holdings in shares of SAP by 1.1% in the 2nd quarter. Sage Rhino Capital LLC now owns 3,438 shares of the software maker's stock valued at $1,045,000 after acquiring an additional 37 shares in the last quarter.

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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