SAP (NYSE:SAP) Downgraded by Zacks Research to “Hold”

by · The Markets Daily

Zacks Research lowered shares of SAP (NYSE:SAP – Free Report) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

A number of other brokerages have also recently commented on SAP. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of SAP in a research report on Friday, January 30th. Piper Sandler initiated coverage on SAP in a research note on Tuesday, February 3rd. They issued an “overweight” rating on the stock. Citizens Jmp downgraded shares of SAP from an “outperform” rating to a “market perform” rating in a report on Friday, January 30th. Weiss Ratings upgraded shares of SAP from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. Finally, TD Cowen reissued a “buy” rating on shares of SAP in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, SAP presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.75.

Read Our Latest Stock Report on SAP

SAP Stock Performance

Shares of SAP stock traded up $2.61 on Thursday, reaching $202.09. 2,427,939 shares of the company traded hands, compared to its average volume of 2,854,997. The company has a 50 day moving average of $218.45 and a 200 day moving average of $244.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 1.16. SAP has a 52 week low of $187.93 and a 52 week high of $313.28. The firm has a market capitalization of $248.27 billion, a PE ratio of 28.67, a PEG ratio of 2.21 and a beta of 1.18.

SAP (NYSE:SAP – Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The software maker reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.13. SAP had a net margin of 19.92% and a return on equity of 16.54%. The company had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. SAP’s revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that SAP will post 6.55 earnings per share for the current year.

Institutional Investors Weigh In On SAP

A number of institutional investors and hedge funds have recently modified their holdings of the company. First PREMIER Bank purchased a new stake in SAP in the 3rd quarter worth approximately $25,000. Retirement Wealth Solutions LLC increased its holdings in shares of SAP by 246.4% in the third quarter. Retirement Wealth Solutions LLC now owns 97 shares of the software maker’s stock worth $26,000 after purchasing an additional 69 shares during the period. Sound Income Strategies LLC raised its position in shares of SAP by 109.4% in the fourth quarter. Sound Income Strategies LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 58 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of SAP in the third quarter worth $27,000. Finally, Copia Wealth Management bought a new stake in SAP during the third quarter valued at $28,000.

About SAP

(Get Free Report)

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.

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