Analyst Michael Turrin of Wells Fargo maintained a Buy rating on SAP SE, retaining the price target of €345.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Michael Turrin has given his Buy rating due to a combination of factors that highlight SAP SE’s strong position in the cloud migration market. Despite some temporary macroeconomic challenges, there is optimism for the second half of the year as partners report no disruptions in existing migration plans and anticipate a budget increase, indicating a growing demand for SAP’s services.
Additionally, the urgency for migration is increasing, with competitive win-backs and positive reception from business decision-makers. The company is expected to slightly exceed revenue expectations, with potential margin improvements providing a counterbalance to any macroeconomic pressures. Furthermore, SAP’s strong backlog conversion and favorable valuation metrics support the Buy rating, as the company is well-positioned for growth and margin expansion through its cloud transition strategy.
In another report released on July 10, Piper Sandler also maintained a Buy rating on the stock with a €355.00 price target.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of 0NW4 in relation to earlier this year.