SAP (NYSE:SAP) Hits New 52-Week High – Time to Buy?

Shares of SAP SE (NYSE:SAP) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $260.73 and last traded at $260.37, with a volume of 40718 shares trading hands. The stock had previously closed at $253.50.

Wall Street Analyst Weigh In

Several brokerages recently commented on SAP. BMO Capital Markets raised their price objective on SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. JMP Securities upped their price objective on SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 22nd. TD Cowen boosted their target price on SAP from $234.00 to $240.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Kepler Capital Markets raised shares of SAP from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Barclays lifted their price target on shares of SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $252.33.

SAP Price Performance

The company’s 50 day moving average is $244.13 and its 200-day moving average is $226.99. The firm has a market capitalization of $320.74 billion, a price-to-earnings ratio of 104.43, a P/E/G ratio of 4.94 and a beta of 1.22. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17.

SAP (NYSE:SAP) last issued its earnings results on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.08). The business had revenue of $8.47 billion for the quarter, compared to the consensus estimate of $9.25 billion. SAP had a return on equity of 11.44% and a net margin of 8.15%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 earnings per share. Equities research analysts anticipate that SAP SE will post 4.8 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Wedmont Private Capital increased its position in SAP by 2.4% during the 4th quarter. Wedmont Private Capital now owns 1,927 shares of the software maker’s stock worth $485,000 after buying an additional 46 shares during the period. Confluence Investment Management LLC boosted its holdings in SAP by 1.1% in the 4th quarter. Confluence Investment Management LLC now owns 4,325 shares of the software maker’s stock valued at $1,065,000 after purchasing an additional 49 shares during the period. PDS Planning Inc grew its position in shares of SAP by 1.3% during the 3rd quarter. PDS Planning Inc now owns 3,994 shares of the software maker’s stock worth $915,000 after purchasing an additional 51 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of SAP by 5.0% in the third quarter. Rosenberg Matthew Hamilton now owns 1,100 shares of the software maker’s stock valued at $252,000 after buying an additional 52 shares during the period. Finally, Drive Wealth Management LLC increased its stake in SAP by 2.9% during the 3rd quarter. Drive Wealth Management LLC now owns 2,172 shares of the software maker’s stock worth $498,000 after acquiring an additional 61 shares during the period.

SAP Company Profile

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.