SAP (NYSE:SAP) Price Target Raised to $348.00 at Barclays

Key Points

• Barclays has raised its price target for SAP from $322.00 to $348.00, suggesting a potential upside of 27.10% based on the current stock price.
• Despite mixed ratings from various analysts, the consensus rating for SAP remains a "Buy" with an average target price of $284.33.
• SAP reported better-than-expected quarterly earnings of $1.86 per share, exceeding analyst estimates of $1.69, with revenues of $10.54 billion.

SAP (NYSE:SAP - Get Free Report) had its price objective raised by research analysts at Barclays from $322.00 to $348.00 in a report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the software maker's stock. Barclays's price target indicates a potential upside of 27.10% from the company's current price.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of SAP in a report on Tuesday, September 16th. Erste Group Bank cut SAP from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. BMO Capital Markets dropped their target price on SAP from $330.00 to $320.00 and set an "outperform" rating for the company in a research report on Thursday. Wall Street Zen downgraded shares of SAP from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of SAP in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $284.33.

SAP Price Performance

NYSE:SAP traded down $4.74 during mid-day trading on Friday, reaching $273.79. The stock had a trading volume of 478,448 shares, compared to its average volume of 1,424,547. The stock has a 50-day simple moving average of $269.59 and a two-hundred day simple moving average of $282.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.03. SAP has a 12 month low of $227.52 and a 12 month high of $313.28. The stock has a market capitalization of $336.36 billion, a PE ratio of 41.02, a P/E/G ratio of 4.10 and a beta of 1.28.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The software maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.17. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $9.10 billion. SAP had a return on equity of 15.87% and a net margin of 19.50%.The company's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 EPS. On average, equities analysts anticipate that SAP will post 6.55 earnings per share for the current year.

Institutional Trading of SAP

Several hedge funds have recently bought and sold shares of the business. Parnassus Investments LLC raised its holdings in SAP by 9.8% during the third quarter. Parnassus Investments LLC now owns 1,222 shares of the software maker's stock worth $327,000 after buying an additional 109 shares during the last quarter. BKM Wealth Management LLC increased its position in shares of SAP by 2.7% during the third quarter. BKM Wealth Management LLC now owns 2,400 shares of the software maker's stock worth $641,000 after acquiring an additional 64 shares in the last quarter. Coerente Capital Management raised its holdings in shares of SAP by 0.6% in the 3rd quarter. Coerente Capital Management now owns 112,466 shares of the software maker's stock worth $30,052,000 after acquiring an additional 673 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in SAP by 48.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 8,663 shares of the software maker's stock valued at $2,315,000 after purchasing an additional 2,835 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in SAP during the 3rd quarter worth approximately $7,740,000.

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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