Deutsche Bank reaffirmed their buy rating on shares of SAP Aktiengesellschaft (NYSE: SAP) in a research note released on Thursday morning.

“At SAP’s CeBIT investor event earlier this week, management reiterated confidence in the major growth drivers of cloud, HANA and Mobile. We believe SAP continues to see strong demand momentum with management indicating it is hosting twice the customer meetings at CeBIT this year vs. 2012. In cloud, SAP has become a credible player able to compete with best-of-breed pure play vendors and still at an early stage with a modest ~5% penetration rate of its customer base so far. Management remained upbeat about HANA’s growthprospects, helped by the anticipated Q3 release of the Business Suite on HANA. We provide more detailed notes from the event overleaf.,” the firm’s analyst wrote.

Shares of SAP Aktiengesellschaft opened at 83.21 on Thursday. SAP Aktiengesellschaft has a 52 week low of $54.78 and a 52 week high of $84.03. The stock’s 50-day moving average is currently $80.16. The company has a market cap of $99.186 billion and a P/E ratio of 27.12.

SAP has been the subject of a number of other recent research reports. Analysts at HSBC upgraded shares of SAP Aktiengesellschaft from a neutral rating to an overweight rating in a research note to investors on Thursday. Separately, analysts at BMO Capital Markets raised their price target on shares of SAP Aktiengesellschaft from $75.00 to $80.00 in a research note to investors on Wednesday, March 6th. They now have a market perform rating on the stock. Finally, analysts at TheStreet reiterated a buy rating on shares of SAP Aktiengesellschaft in a research note to investors on Friday, March 1st.

Sap AG is a Germany-based holding company of the SAP Group, which is engaged in enterprise applications solutions development.

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