SAP (NYSE:SAP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SAP (NYSE:SAP) from a hold rating to a buy rating in a report published on Monday.

Other equities research analysts have also recently issued research reports about the stock. KeyCorp reaffirmed an “overweight” rating on shares of SAP in a research note on Thursday, October 23rd. Citigroup cut shares of SAP from a “buy” rating to a “hold” rating in a report on Friday, January 30th. Piper Sandler initiated coverage on shares of SAP in a research note on Tuesday, February 3rd. They set an “overweight” rating on the stock. Arete Research upgraded SAP to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of SAP in a report on Friday, January 30th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, SAP currently has an average rating of “Moderate Buy” and an average price target of $305.75.

SAP Stock Up 1.9%

NYSE:SAP opened at $205.36 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.17 and a quick ratio of 1.10. The company’s fifty day moving average price is $229.40 and its 200-day moving average price is $251.70. SAP has a 1-year low of $189.22 and a 1-year high of $313.28. The firm has a market capitalization of $252.28 billion, a P/E ratio of 29.13, a PEG ratio of 2.24 and a beta of 1.17.

SAP (NYSE:SAP) last announced its quarterly earnings results on Thursday, January 29th. The software maker reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.13. SAP had a return on equity of 16.52% and a net margin of 19.92%.The company had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same period last year, the firm earned $1.40 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that SAP will post 6.55 EPS for the current year.

Institutional Investors Weigh In On SAP

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First PREMIER Bank acquired a new position in SAP during the third quarter worth about $25,000. Retirement Wealth Solutions LLC lifted its stake in SAP by 246.4% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 97 shares of the software maker’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Sound Income Strategies LLC lifted its stake in SAP by 109.4% in the 4th quarter. Sound Income Strategies LLC now owns 111 shares of the software maker’s stock worth $26,000 after purchasing an additional 58 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of SAP in the third quarter valued at approximately $27,000. Finally, Copia Wealth Management acquired a new stake in shares of SAP in the third quarter valued at approximately $28,000.

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.