SAP (NYSE:SAP) Raised to Hold at Hsbc Global Res

SAP (NYSE:SAP) was upgraded by Hsbc Global Res to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the company. Morgan Stanley reissued an “overweight” rating on shares of SAP in a report on Friday, October 31st. KeyCorp reissued an “overweight” rating on shares of SAP in a research note on Thursday, October 23rd. Citigroup reaffirmed a “buy” rating on shares of SAP in a research note on Thursday, December 11th. BMO Capital Markets lowered their price target on shares of SAP from $330.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Finally, Wall Street Zen downgraded shares of SAP from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $280.20.

SAP Stock Performance

Shares of SAP opened at $224.95 on Tuesday. SAP has a 12-month low of $221.71 and a 12-month high of $313.28. The stock has a market cap of $278.77 billion, a P/E ratio of 33.67, a PEG ratio of 2.76 and a beta of 1.18. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $241.70 and a two-hundred day moving average of $263.91.

SAP (NYSE:SAP) last issued its quarterly earnings data on Wednesday, October 22nd. The software maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.17. SAP had a net margin of 19.50% and a return on equity of 15.69%. The business had revenue of $10.65 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same period last year, the company posted $1.23 EPS. The company’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts predict that SAP will post 6.55 EPS for the current fiscal year.

Hedge Funds Weigh In On SAP

A number of hedge funds have recently made changes to their positions in SAP. First PREMIER Bank purchased a new position in shares of SAP in the 3rd quarter worth $25,000. Retirement Wealth Solutions LLC increased its stake in 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 acquiring an additional 69 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of 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 during the period. Abich Financial Wealth Management LLC acquired a new position in shares of SAP in the 3rd quarter valued at about $27,000. Finally, Copia Wealth Management purchased a new stake in shares of SAP during the 3rd quarter worth about $28,000.

SAP Company Profile

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.