SAP (NYSE:SAP) Reaches New 12-Month High – What’s Next?

Shares of SAP SE (NYSE:SAP) hit a new 52-week high during trading on Tuesday . The company traded as high as $266.63 and last traded at $266.62, with a volume of 6295 shares traded. The stock had previously closed at $262.83.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SAP shares. TD Cowen raised shares of SAP from a “hold” rating to a “buy” rating and raised their target price for the company from $240.00 to $305.00 in a research report on Friday. BMO Capital Markets raised their price objective on SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. JMP Securities lifted their target price on SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 22nd. Kepler Capital Markets raised SAP from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th. Finally, Barclays boosted their price target on SAP from $252.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, SAP has an average rating of “Buy” and an average price target of $263.17.

SAP Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a 50-day moving average price of $246.21 and a 200-day moving average price of $228.71. The company has a market capitalization of $327.43 billion, a price-to-earnings ratio of 106.61, a PEG ratio of 3.72 and a beta of 1.22.

SAP (NYSE:SAP) last announced its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.08). SAP had a net margin of 8.15% and a return on equity of 11.44%. The business had revenue of $8.47 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the business earned $1.20 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts forecast that SAP SE will post 4.66 earnings per share for the current year.

Hedge Funds Weigh In On SAP

Several large investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its position in SAP by 91.1% during the fourth quarter. Brighton Jones LLC now owns 2,633 shares of the software maker’s stock worth $648,000 after acquiring an additional 1,255 shares during the last quarter. Veracity Capital LLC grew its position in shares of SAP by 4.9% in the fourth quarter. Veracity Capital LLC now owns 1,132 shares of the software maker’s stock valued at $279,000 after purchasing an additional 53 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of SAP by 37.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,606 shares of the software maker’s stock worth $395,000 after purchasing an additional 436 shares during the period. Albion Financial Group UT increased its stake in shares of SAP by 122.4% during the fourth quarter. Albion Financial Group UT now owns 129 shares of the software maker’s stock worth $32,000 after purchasing an additional 71 shares during the period. Finally, Dakota Wealth Management acquired a new stake in SAP during the 4th quarter worth approximately $795,000.

About SAP

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.