SAP (NYSE:SAP) Shares Gap Down – What’s Next?

SAP SE (NYSE:SAP)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $185.01, but opened at $177.04. SAP shares last traded at $176.1150, with a volume of 1,469,344 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Citizens Jmp cut shares of SAP from an “outperform” rating to a “market perform” rating in a research note on Friday, January 30th. Weiss Ratings cut shares of SAP from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Barclays set a $283.00 price objective on shares of SAP in a report on Monday, February 2nd. Citigroup cut shares of SAP from a “buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Zacks Research downgraded shares of SAP from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.75.

SAP Stock Down 5.0%

The firm’s 50 day moving average is $207.87 and its 200-day moving average is $238.93. The firm has a market cap of $215.97 billion, a PE ratio of 24.94, a P/E/G ratio of 1.93 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

SAP (NYSE:SAP) last posted its quarterly earnings data on Thursday, January 29th. The software maker reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.13. SAP had a return on equity of 16.54% and a net margin of 19.92%.The business had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that SAP SE will post 6.55 earnings per share for the current fiscal year.

Institutional Trading of SAP

A number of institutional investors and hedge funds have recently made changes to their positions in SAP. Oppenheimer Asset Management Inc. lifted its holdings in SAP by 15.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 53,410 shares of the software maker’s stock worth $14,272,000 after acquiring an additional 7,066 shares during the last quarter. Seaview Investment Managers LLC raised its position in shares of SAP by 191.4% during the 3rd quarter. Seaview Investment Managers LLC now owns 11,744 shares of the software maker’s stock worth $3,138,000 after purchasing an additional 7,714 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of SAP during the 3rd quarter worth approximately $32,760,000. Cidel Asset Management Inc. lifted its holdings in shares of SAP by 9.7% in the 3rd quarter. Cidel Asset Management Inc. now owns 139,273 shares of the software maker’s stock worth $37,215,000 after purchasing an additional 12,268 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in SAP by 2.3% during the 3rd quarter. Natixis Advisors LLC now owns 415,087 shares of the software maker’s stock valued at $110,915,000 after purchasing an additional 9,195 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.