Oppenheimer Reaffirms Their Buy Rating on SAP AG

By Jason Carr

In a report released today, Brian Schwartz from Oppenheimer reiterated a Buy rating on SAP AG (NYSE: SAP), with a price target of $115. The company’s shares closed yesterday at $106.62, close to its 52-week high of $108.72.

Schwartz commented:

“We recently met with Sam Yen, Chief Design Officer, and Scott Smith, IR Director, at SAP’s Palo Alto office. While no new material information was shared, the overall tone of the business sounds positive, and we left with higher confidence in our stock thesis that SAP is the best name to play in our coverage universe for an improving macro environment in Europe and emerging markets, and for the digital transformations wave that’s currently permeating throughout the enterprise market. Bottom Line: We remain positive on SAP because of a strengthening core product refresh cycle, healthy business trends, and with an attractive set-up for an acceleration in operating margins and earnings growth over the next two years from the cloud model transition.”

According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 22.8% and a 76.5% success rate. Schwartz covers the Technology sector, focusing on stocks such as Callidus Software, Ultimate Software, and Instructure Inc.

SAP AG has an analyst consensus of Moderate Buy, with a price target consensus of $101.40.

The company has a one year high of $108.72 and a one year low of $71.39. Currently, SAP AG has an average volume of 737.9K.

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