SAP (NYSE:SAP) Price Target Cut to $210.00 by Analysts at TD Cowen

SAP (NYSE:SAP) had its target price lowered by investment analysts at TD Cowen from $230.00 to $210.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. TD Cowen’s target price would indicate a potential upside of 29.67% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Piper Sandler cut SAP from an “overweight” rating to a “neutral” rating in a report on Tuesday, April 14th. The Goldman Sachs Group reiterated a “buy” rating and issued a $265.00 target price on shares of SAP in a report on Wednesday, June 10th. Barclays lifted their target price on shares of SAP from $256.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Wall Street Zen lowered shares of SAP from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of SAP in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $271.17.

SAP Stock Up 3.9%

SAP stock opened at $161.95 on Friday. SAP has a 52 week low of $148.06 and a 52 week high of $309.73. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.11. The stock has a market cap of $198.95 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.79 and a beta of 1.14. The company’s 50-day moving average price is $167.15 and its two-hundred day moving average price is $187.75.

SAP (NYSE:SAP) last announced its earnings results 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 firm had revenue of $11.06 billion for the quarter. On average, analysts expect that SAP will post 8.3 EPS for the current fiscal year.

Institutional Trading of SAP

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC grew its stake in SAP by 109.4% in the fourth quarter. Sound Income Strategies LLC now owns 111 shares of the software maker’s stock valued at $26,000 after purchasing an additional 58 shares in the last quarter. Bayban purchased a new stake in shares of SAP during the 4th quarter worth about $28,000. Front Row Advisors LLC raised its stake in shares of SAP by 362.5% during the 1st quarter. Front Row Advisors LLC now owns 185 shares of the software maker’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. GoalVest Advisory LLC acquired a new stake in shares of SAP during the 4th quarter valued at about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of SAP by 758.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 146 shares of the software maker’s stock valued at $35,000 after buying an additional 129 shares during the last quarter.

SAP Company Profile

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.