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SAP AG (SAP) Receives a Rating Update from a Top Analyst

Oppenheimer analyst Brian Schwartz maintained a Hold rating on SAP AG (SAPResearch Report) today. The company’s shares closed last Thursday at $89.76, close to its 52-week low of $83.50.

According to TipRanks.com, Schwartz is a top 100 analyst with an average return of 20.9% and a 64.0% success rate. Schwartz covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, Zeta Global Holdings Corp, and Qualtrics International.

Currently, the analyst consensus on SAP AG is a Moderate Buy with an average price target of $122.00, implying a 38.9% upside from current levels. In a report issued on July 6, Barclays also downgraded the stock to Hold with a $108.00 price target.

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Based on SAP AG’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.08 billion and net profit of $740 million. In comparison, last year the company earned revenue of $6.35 billion and had a net profit of $1.04 billion.

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Founded in 1972, Germany-based SAP SE, engages in the provision of enterprise application software and software-related services. It operates through four segments, including Applications, Technology, & Support; Concur; Qualtrics; and Services.

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