Nomura Securities Maintains a 'Buy' on SAP AG (SAP); Q2 Review
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Price: $80.89 +0.17%
Rating Summary:
10 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
10 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Nomura Securities maintains a 'Buy' on SAP AG (NYSE: SAP) price target of EUR58.00.
Analyst, Risk Sherlund, said, "Preliminary results for second quarter exceeded consensus expectations on the important software revenue line. For 2Q, the company expects software revenues to be €1.06bn vs. our estimate of €1.02bn and consensus at €977m; this is up 26% reported and 19% in cc vs. our estimate of up 22% and 12% cc and guidance of 15%-20% cc. Software and software-related services (SSRS) were €3.14bn, up 15% cc vs. our estimate of €3.11bn. Total revenue is expected to be €3.92bn up 12% cc, just above our estimate of €3.85bn, up 8% cc. SAP noted that HANA had an outstanding quarter with significant deals across regions. SAP noted that the company saw double-digit revenue gains across all regions. The stock is currently selling for 15x and 13x our 2012 and 2013 earnings estimates, just above the applications peer group averages of 13x and 12x, respectively."
For an analyst ratings summary and ratings history on SAP AG click here. For more ratings news on SAP AG click here.
Shares of SAP AG closed at $58.40 yesterday, with a 52 week range of $47.39-$72.52.
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Analyst, Risk Sherlund, said, "Preliminary results for second quarter exceeded consensus expectations on the important software revenue line. For 2Q, the company expects software revenues to be €1.06bn vs. our estimate of €1.02bn and consensus at €977m; this is up 26% reported and 19% in cc vs. our estimate of up 22% and 12% cc and guidance of 15%-20% cc. Software and software-related services (SSRS) were €3.14bn, up 15% cc vs. our estimate of €3.11bn. Total revenue is expected to be €3.92bn up 12% cc, just above our estimate of €3.85bn, up 8% cc. SAP noted that HANA had an outstanding quarter with significant deals across regions. SAP noted that the company saw double-digit revenue gains across all regions. The stock is currently selling for 15x and 13x our 2012 and 2013 earnings estimates, just above the applications peer group averages of 13x and 12x, respectively."
For an analyst ratings summary and ratings history on SAP AG click here. For more ratings news on SAP AG click here.
Shares of SAP AG closed at $58.40 yesterday, with a 52 week range of $47.39-$72.52.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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