TD Cowen Cuts SAP (NYSE:SAP) Price Target to $210.00

Key Points

• TD Cowen lowered its price target on SAP from $230 to $210, while keeping a buy rating on the stock. The new target still implies about 29.67% upside from the prior close.
• Despite the cut, SAP continues to receive broadly positive analyst coverage, with the market’s average rating at Moderate Buy and an average price target of $271.17. Several firms have recently maintained or raised their targets, though some have trimmed expectations.
• SAP stock was up 3.9% and opened at $161.95 on Friday. The company also reported solid quarterly results earlier this year, including $1.99 EPS and $11.06 billion in revenue.

SAP (NYSE:SAP - Get Free Report) had its price target reduced by stock analysts at TD Cowen from $230.00 to $210.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the software maker's stock. TD Cowen's price objective would suggest a potential upside of 29.67% from the stock's previous close.

Other equities analysts have also issued reports about the company. Weiss Ratings upgraded SAP from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of SAP in a research note on Tuesday, March 24th. Barclays upped their price target on SAP from $256.00 to $257.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. The Goldman Sachs Group reiterated a "buy" rating and set a $265.00 price objective on shares of SAP in a research note on Wednesday, June 10th. Finally, BMO Capital Markets cut their price objective on SAP from $210.00 to $200.00 and set an "outperform" rating on the stock in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $271.17.

SAP Stock Up 3.9%

SAP stock opened at $161.95 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.07 and a quick ratio of 1.07. SAP has a 12 month low of $148.06 and a 12 month high of $309.73. The firm has a market capitalization of $198.95 billion, a PE ratio of 21.88, a P/E/G ratio of 1.79 and a beta of 1.14. The company's 50 day simple moving average is $167.15 and its 200-day simple moving average is $187.75.

SAP (NYSE:SAP - Get Free Report) last released its quarterly earnings results on Friday, February 27th. The software maker reported $1.99 earnings per share for the quarter. SAP had a return on equity of 17.31% and a net margin of 20.08%.The company had revenue of $11.06 billion during the quarter. Equities analysts expect that SAP will post 8.3 earnings per share for the current fiscal year.

Institutional Trading of SAP

Large investors have recently modified their holdings of the company. Windacre Partnership LLC boosted its stake in SAP by 130.9% during the 3rd quarter. Windacre Partnership LLC now owns 2,357,225 shares of the software maker's stock valued at $629,874,000 after purchasing an additional 1,336,325 shares during the period. Bank of America Corp DE increased its stake in shares of SAP by 58.1% in the second quarter. Bank of America Corp DE now owns 2,650,418 shares of the software maker's stock valued at $805,992,000 after purchasing an additional 973,779 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of SAP during the first quarter valued at approximately $150,701,000. Sustainable Growth Advisers LP raised its holdings in shares of SAP by 1,126.3% during the third quarter. Sustainable Growth Advisers LP now owns 842,416 shares of the software maker's stock valued at $225,102,000 after buying an additional 773,720 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of SAP by 1,582.7% during the fourth quarter. M&T Bank Corp now owns 817,295 shares of the software maker's stock worth $198,529,000 after buying an additional 768,725 shares during the period.

About SAP

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company's name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP's product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.

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