SAP (NYSE:SAP) Price Target Lowered to $43.00 at Royal Bank of Canada

SAP (NYSE:SAP) had its price target trimmed by Royal Bank of Canada from $47.00 to $43.00 in a report published on Tuesday morning, Stock Target Advisor reports. The firm currently has an outperform rating on the software maker’s stock.

Several other brokerages have also recently commented on SAP. Bank of America upgraded shares of SAP from an underperform rating to a buy rating in a report on Wednesday, July 7th. DZ Bank restated a neutral rating on shares of SAP in a report on Wednesday, June 16th. Barclays reaffirmed an overweight rating and set a $165.00 price target (up from $162.00) on shares of SAP in a research report on Tuesday, July 27th. CIBC upped their price target on shares of SAP from $43.00 to $45.00 and gave the stock an outperformer rating in a research report on Friday, June 4th. Finally, Oddo Bhf lowered shares of SAP from an outperform rating to a neutral rating in a research report on Thursday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $123.70.

SAP stock opened at $141.83 on Tuesday. SAP has a twelve month low of $104.64 and a twelve month high of $159.46. The company has a 50 day moving average of $145.91 and a 200-day moving average of $139.84. The stock has a market capitalization of $174.24 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.84 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.33.

SAP (NYSE:SAP) last announced its earnings results on Wednesday, July 21st. The software maker reported $1.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.72. SAP had a net margin of 21.60% and a return on equity of 19.90%. The business had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. Equities analysts anticipate that SAP will post 5.11 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Vulcan Value Partners LLC bought a new position in SAP during the first quarter worth about $552,001,000. Ameriprise Financial Inc. increased its position in SAP by 178.7% during the first quarter. Ameriprise Financial Inc. now owns 1,023,078 shares of the software maker’s stock worth $124,257,000 after acquiring an additional 656,010 shares during the period. Renaissance Technologies LLC bought a new position in SAP during the first quarter worth about $73,392,000. BlackRock Inc. increased its position in SAP by 11,172.2% during the first quarter. BlackRock Inc. now owns 408,731 shares of the software maker’s stock worth $50,188,000 after acquiring an additional 405,105 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in SAP by 140.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 627,750 shares of the software maker’s stock worth $77,081,000 after acquiring an additional 367,097 shares during the period. 4.18% of the stock is currently owned by institutional investors.

SAP Company Profile

SAP SE engages in the provision of enterprise application software and software-related services. It operates through the following segments: Applications, Technology, and Services; Intelligent Spend Group; and Qualtrics. The Applications, Technology, and Services segment includes software licenses, cloud subscriptions, and related services.

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Analyst Recommendations for SAP (NYSE:SAP)

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