SAP's (SAP) Buy (B) Rating Reiterated at Weiss Ratings

Key Points

• SAP's stock rating: Weiss Ratings has reaffirmed a "buy" rating for SAP, while multiple analysts provide varied ratings, including a "hold" and "market outperform" by others.
• Strong earnings report: SAP reported $1.70 earnings per share, exceeding estimates, alongside a quarterly revenue of $10.58 billion, significantly above analyst expectations.
• Institutional investments: Several hedge funds have recently altered their stakes in SAP, with notable increases in holdings by Retirement Wealth Solutions LLC and other institutions during the third quarter.

SAP (NYSE:SAP - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently weighed in on the stock. Erste Group Bank cut shares of SAP from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. JMP Securities raised their price target on shares of SAP from $330.00 to $375.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 23rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of SAP in a research note on Tuesday, September 16th. Piper Sandler started coverage on shares of SAP in a research note on Tuesday, June 17th. They set an "overweight" rating for the company. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of SAP in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $281.67.

SAP Price Performance

NYSE SAP opened at $277.26 on Wednesday. The business has a 50 day simple moving average of $272.19 and a 200 day simple moving average of $282.39. SAP has a 52-week low of $223.70 and a 52-week high of $313.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $340.61 billion, a price-to-earnings ratio of 45.90, a PEG ratio of 3.94 and a beta of 1.28.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.07. The company had revenue of $10.58 billion during the quarter, compared to analysts' expectations of $9.10 billion. SAP had a net margin of 18.26% and a return on equity of 14.84%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $1.10 EPS. Analysts anticipate that SAP will post 6.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SAP

Several hedge funds have recently added to or reduced their stakes in the business. Hilltop National Bank acquired a new stake in SAP during the 3rd quarter valued at $40,000. Retirement Wealth Solutions LLC lifted its holdings in shares of SAP by 246.4% during the third quarter. Retirement Wealth Solutions LLC now owns 97 shares of the software maker's stock worth $26,000 after buying an additional 69 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in shares of SAP during the third quarter worth $94,000. Cardinal Capital Management Inc. lifted its holdings in shares of SAP by 3.1% during the third quarter. Cardinal Capital Management Inc. now owns 79,828 shares of the software maker's stock worth $21,331,000 after buying an additional 2,374 shares in the last quarter. Finally, Park National Corp OH lifted its holdings in shares of SAP by 28.8% during the third quarter. Park National Corp OH now owns 2,023 shares of the software maker's stock worth $541,000 after buying an additional 452 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.