SAP (NYSE:SAP) Given New $210.00 Price Target at TD Cowen

SAP (NYSE:SAP) had its target price lowered by TD Cowen from $230.00 to $210.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

SAP has been the subject of a number of other reports. Weiss Ratings upgraded SAP from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 30th. Piper Sandler lowered SAP from an “overweight” rating to a “neutral” rating in a research note on Tuesday, April 14th. BMO Capital Markets reduced their price objective on SAP from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. The Goldman Sachs Group reiterated a “buy” rating and set a $265.00 target price on shares of SAP in a report on Wednesday, June 10th. Finally, Barclays lifted their price target on shares of SAP from $256.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, SAP presently has a consensus rating of “Moderate Buy” and an average target price of $271.17.

SAP Trading Down 1.6%

Shares of SAP stock opened at $159.09 on Friday. SAP has a fifty-two week low of $148.06 and a fifty-two week high of $309.73. The business’s fifty day moving average is $166.86 and its two-hundred day moving average is $187.55. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.11. The firm has a market cap of $195.44 billion, a PE ratio of 21.50, a P/E/G ratio of 1.85 and a beta of 1.14.

SAP (NYSE:SAP) last announced its quarterly earnings data on Friday, February 27th. The software maker reported $1.99 EPS for the quarter. SAP had a return on equity of 17.31% and a net margin of 20.08%.The business had revenue of $11.06 billion during the quarter. Analysts anticipate that SAP will post 8.29 earnings per share for the current year.

Hedge Funds Weigh In On SAP

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Windacre Partnership LLC grew its position in SAP by 130.9% during the third 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 in the last quarter. Bank of America Corp DE grew its holdings in shares of SAP by 58.1% during the 2nd quarter. Bank of America Corp DE now owns 2,650,418 shares of the software maker’s stock valued at $805,992,000 after acquiring an additional 973,779 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of SAP during the 1st quarter valued at $150,701,000. Sustainable Growth Advisers LP increased its stake in shares of SAP by 1,126.3% in the third quarter. Sustainable Growth Advisers LP now owns 842,416 shares of the software maker’s stock worth $225,102,000 after acquiring an additional 773,720 shares during the last quarter. Finally, M&T Bank Corp raised its holdings 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 acquiring an additional 768,725 shares in the last quarter.

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.