JMP Securities Boosts SAP (NYSE:SAP) Price Target to $375.00

SAP (NYSE:SAP - Free Report) had its price target lifted by JMP Securities from $330.00 to $375.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a market outperform rating on the software maker's stock.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company initiated coverage on shares of SAP in a research report on Tuesday, May 20th. They set an "overweight" rating on the stock. Wall Street Zen upgraded shares of SAP from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Argus restated a "buy" rating and set a $320.00 price objective on shares of SAP in a research note on Tuesday, April 29th. BMO Capital Markets lifted their price objective 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, Jefferies Financial Group reiterated a "buy" rating on shares of SAP in a research note on Friday, May 2nd. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, SAP has an average rating of "Buy" and an average target price of $281.67.

SAP Stock Performance

SAP stock traded up $1.59 during midday trading on Wednesday, reaching $287.75. 1,608,657 shares of the company's stock traded hands, compared to its average volume of 1,304,201. The stock's 50-day moving average is $300.15 and its 200 day moving average is $282.88. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The stock has a market cap of $353.51 billion, a P/E ratio of 47.64, a PEG ratio of 4.10 and a beta of 1.30. SAP has a 52-week low of $194.93 and a 52-week high of $313.28.

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

Institutional Investors Weigh In On SAP

Several hedge funds and other institutional investors have recently made changes to their positions in the company. TD Asset Management Inc lifted its holdings in shares of SAP by 3.8% in the first quarter. TD Asset Management Inc now owns 1,662,809 shares of the software maker's stock valued at $446,364,000 after purchasing an additional 60,261 shares in the last quarter. Northern Trust Corp grew its position in shares of SAP by 2.8% in the first quarter. Northern Trust Corp now owns 1,512,724 shares of the software maker's stock valued at $406,076,000 after purchasing an additional 40,926 shares during the last quarter. JPMorgan Chase & Co. grew its position in SAP by 145.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,346,506 shares of the software maker's stock worth $331,523,000 after buying an additional 798,037 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in SAP by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker's stock worth $354,048,000 after purchasing an additional 80,164 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of SAP by 5.7% during the 4th quarter. Bank of America Corp DE now owns 1,314,814 shares of the software maker's stock valued at $323,720,000 after acquiring an additional 70,613 shares in the last quarter.

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.