SAP (SAP)

• Market cap: $289B
• 1 day: 0.90%
• 5 days: -1.86%
• 1 month: 5.48%
• 3 months: 8.34%
• 6 months: 29.47%
• Year to date: 65.04%
• 1 year: 64.02%
• 5 years: 84.44%
• 10 years: 250.69%

About: Founded in 1972 by former IBM employees, SAP provides database technology and enterprise resource planning software to enterprises around the world. Across more than 180 countries, the company serves 440,000 customers, approximately 80% of which are small- to medium-size enterprises.

Employees: 107,602

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

80% more first-time investments, than exits

New positions opened: 108 | Existing positions closed: 60

7% more capital invested

Capital invested by funds: $14.7B [Q2] → $15.7B (+$994M) [Q3]

7% more funds holding

Funds holding: 730 [Q2] → 778 (+48) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 15 [Q2] → 15 (+0) [Q3]

0.36% less ownership

Funds ownership: 5.96% [Q2] → 5.61% (-0.36%) [Q3]

5% less repeat investments, than reductions

Existing positions increased: 266 | Existing positions reduced: 280

64% less call options, than puts

Call options by funds: $82.5M | Put options by funds: $232M

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $240 3% downside
• Avg. target: $270 9% upside
• High target: $300 21% upside

4 analyst ratings

• positive: 3 75%
• neutral: 1 25%
• negative: 0 0%

Barclays Raimo Lenschow 59% 1-year accuracy 52 / 88 met price target	11% upside $275	Overweight Maintained	23 Oct 2024
BMO Capital Keith Bachman 80% 1-year accuracy 47 / 59 met price target	7% upside $265	Outperform Maintained	22 Oct 2024
TD Cowen J. Derrick Wood 57% 1-year accuracy 8 / 14 met price target	3% downside $240	Hold Maintained	22 Oct 2024
JMP Securities Patrick Walravens 69% 1-year accuracy 74 / 108 met price target	21% upside $300	Market Outperform Maintained	22 Oct 2024