SAP (NYSE:SAP) Shares Gap Down - Should You Sell?

SAP SE (NYSE:SAP - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $306.29, but opened at $292.92. SAP shares last traded at $287.47, with a volume of 591,970 shares traded.

Analysts Set New Price Targets

Several research analysts recently commented on SAP shares. 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 report on Friday, May 23rd. Wall Street Zen raised shares of SAP from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Barclays reaffirmed an "overweight" rating and set a $308.00 price target (up from $286.00) on shares of SAP in a research report on Thursday, April 24th. Wells Fargo & Company assumed coverage on shares of SAP in a research report on Tuesday, May 20th. They set an "overweight" rating on the stock. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of SAP in a research report on Friday, May 2nd. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $279.33.

SAP Trading Up 0.1%

The firm has a market capitalization of $351.84 billion, a P/E ratio of 47.42, a price-to-earnings-growth ratio of 4.12 and a beta of 1.30. The business's 50-day moving average is $300.33 and its 200 day moving average is $282.62. 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 quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.07. The business had revenue of $10.58 billion for 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 revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $1.10 earnings per share. As a group, analysts anticipate that SAP SE will post 6.55 EPS for the current fiscal year.

Institutional Investors Weigh In On SAP

Hedge funds have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC boosted its position in SAP by 18.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,845 shares of the software maker's stock worth $1,169,000 after buying an additional 604 shares during the period. Apollon Wealth Management LLC boosted its position in SAP by 10.7% during the 2nd quarter. Apollon Wealth Management LLC now owns 4,906 shares of the software maker's stock worth $1,492,000 after buying an additional 475 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in SAP by 20.0% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,003 shares of the software maker's stock worth $609,000 after buying an additional 334 shares during the period. PDS Planning Inc raised its holdings in SAP by 6.8% during the 2nd quarter. PDS Planning Inc now owns 4,840 shares of the software maker's stock worth $1,472,000 after purchasing an additional 309 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new position in SAP during the 2nd quarter worth approximately $203,000.

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.