SAP (NYSE:SAP) Shares Gap Down – Here’s What Happened

SAP SE (NYSE:SAP)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $216.93, but opened at $208.58. SAP shares last traded at $210.9920, with a volume of 499,771 shares trading hands.

Analyst Ratings Changes

SAP has been the subject of a number of analyst reports. The Goldman Sachs Group reissued a “buy” rating and set a $265.00 price objective on shares of SAP in a report on Wednesday, June 10th. Morgan Stanley restated an “overweight” rating on shares of SAP in a research report on Friday. Jefferies Financial Group cut shares of SAP from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of SAP in a report on Wednesday, August 12th. Finally, TD Cowen reiterated a “buy” rating on shares of SAP in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, SAP currently has a consensus rating of “Moderate Buy” and a consensus target price of $264.83.

SAP Trading Down 3.3%

The business’s 50 day simple moving average is $176.31 and its 200-day simple moving average is $179.83. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $257.62 billion, a P/E ratio of 26.34, a PEG ratio of 2.57 and a beta of 1.12.

SAP (NYSE:SAP) last announced its quarterly earnings results on Wednesday, July 22nd. The software maker reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.18). SAP had a net margin of 20.88% and a return on equity of 17.07%. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.30 billion. During the same period last year, the company earned $1.50 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts forecast that SAP SE will post 8.15 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Binnacle Investments Inc grew its position in SAP by 14.2% during the 3rd quarter. Binnacle Investments Inc now owns 338 shares of the software maker’s stock worth $90,000 after purchasing an additional 42 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of SAP by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 4,495 shares of the software maker’s stock worth $1,355,000 after buying an additional 43 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of SAP by 19.4% during the third quarter. Larson Financial Group LLC now owns 308 shares of the software maker’s stock worth $82,000 after buying an additional 50 shares during the period. Alaethes Wealth LLC lifted its stake in shares of SAP by 0.5% during the second quarter. Alaethes Wealth LLC now owns 11,256 shares of the software maker’s stock worth $3,423,000 after buying an additional 57 shares during the period. Finally, Arete Wealth Advisors LLC grew its holdings in shares of SAP by 4.5% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,332 shares of the software maker’s stock valued at $324,000 after buying an additional 57 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.