SAP (NYSE:SAP) Given New $43.00 Price Target at Royal Bank of Canada

SAP (NYSE:SAP) had its target price trimmed by Royal Bank of Canada from $47.00 to $43.00 in a research note released 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 commented on SAP. DZ Bank reissued a neutral rating on shares of SAP in a report on Wednesday, June 16th. UBS Group reissued a neutral rating on shares of SAP in a report on Thursday, July 22nd. Societe Generale reaffirmed a buy rating on shares of SAP in a research note on Thursday, July 22nd. Barclays reaffirmed an overweight rating and issued a $165.00 target price (up previously from $162.00) on shares of SAP in a research note on Tuesday, July 27th. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating on shares of SAP in a research note on Thursday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $123.70.

Shares of SAP opened at $141.83 on Tuesday. The business’s 50-day moving average price is $145.91 and its 200-day moving average price is $139.84. SAP has a twelve month low of $104.64 and a twelve month high of $159.46. The stock has a market cap of $174.24 billion, a PE ratio of 23.96, a P/E/G 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 quarterly earnings results on Wednesday, July 21st. The software maker reported $1.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.72. SAP had a return on equity of 19.90% and a net margin of 21.60%. The firm had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. Analysts expect that SAP will post 5.11 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in SAP in the second quarter worth $484,000. Bank of America Corp DE raised its holdings in SAP by 41.8% in the second quarter. Bank of America Corp DE now owns 1,126,494 shares of the software maker’s stock worth $158,227,000 after purchasing an additional 332,017 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in SAP by 8.4% in the second quarter. Parametric Portfolio Associates LLC now owns 1,236,936 shares of the software maker’s stock worth $173,740,000 after purchasing an additional 95,916 shares in the last quarter. Sawtooth Solutions LLC raised its holdings in SAP by 99.0% in the second quarter. Sawtooth Solutions LLC now owns 5,285 shares of the software maker’s stock worth $742,000 after purchasing an additional 2,629 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in SAP in the second quarter worth $282,000. Institutional investors and hedge funds own 4.18% of the company’s stock.

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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