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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.

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The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index moved to the &#8220;Extreme Greed&#8221; zone on Friday.
U.S. stocks settled higher on Friday, with the Dow Jones index and S&amp;P 500 jumping to fresh record highs during the session.
All three major indices recorded gains for the sixth straight week, with the Dow and S&amp;P 500 gaining 0.96% and 0.85%, respectively. The Nasdaq, meanwhile, added 0.80% last week.
On the economic data front, U.S. housing starts fell by 0.5% from the previous month to an annualized rate of 1.354 million units in September. Building permits declined by 2.9% to an annual rate of 1.428 million in September.
Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) shares jumped around 11% on Friday after the company reported better-than-expected third-quarter earnings. The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) posted upbeat quarterly earnings, while revenue missed estimates.
As far as the earnings season is concerned, over 70 S&amp;P 500 companies have released quarterly results so far, with around 75% of those exceeding market estimates.
Most sectors on the S&amp;P 500 closed on a positive note, with utilities, communication services, and real estate stocks recording the biggest gains on Friday. However, energy stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 37 points to 43,275.91 on Friday. The S&amp;P 500 gained 0.40% to rise to 5,864.67, while the Nasdaq Composite rose 0.63% to close at 18,489.55 during Friday's session.
Investors are awaiting earnings results from SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>), Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), and Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 75, the index moved to the &#8220;Extreme Greed&#8221; zone on Friday, versus a prior reading of 70.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Dow, S&P 500 Settle At Record High Levels, Record 6th Consecutive Week Of Gains: Fear Index Moves To 'Extreme Greed' Zone

With U.S. stock futures trading mixed this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) to report quarterly earnings at $1.33 per share on revenue of $9.29 billion after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. SAP shares gained 0.2% to $230.87 in after-hours trading.</li>
<li>Public Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSA#NYSE">PSA</a>) named Chris Sambar as COO. Public Storage shares gained 0.1% to close at $345.62 on Friday.</li>
<li>Analysts are expecting Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) to post quarterly earnings at $1.47 per share on revenue of $7.28 billion. The company will release earnings after the markets close. Nucor shares gained 0.1% to close at $158.24 on Friday.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>The Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) shares fell in after-hours trading after a report suggesting the company has resumed merger discussions with Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) after the conversation ended last year. Cigna shares fell 4.7% to $320.26 in the after-hours trading session.</li>
<li>Analysts expect Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>) to report quarterly earnings at 99 cents per share on revenue of $1.11 billion after the closing bell. Logitech shares rose 1.2% to close at $88.63 on Friday.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41402086/wall-streets-most-accurate-analysts-give-their-take-on-3-financials-stocks-delivering-hi">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Financials Stocks Delivering High-Dividend Yields</a></li>
</ul>
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SAP, Nucor And 3 Stocks To Watch Heading Into Monday

Wedbush Securities analyst Dan Ives forecasts a &#8220;robust&#8221; third-quarter earnings season for technology companies, citing artificial intelligence adoption, improved enterprise spending, and rebounding <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41280243/q3-earnings-preview-analyst-predicts-tech-will-triumph-while-energy-will-struggle">digital advertising as key growth drivers</a>.
What Happened: In a post on X, formerly Twitter, Ives highlighted an expanding roster of companies beyond traditional AI leaders that are now capitalizing on the technology revolution.
While NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) are &#8220;the core drivers of AI, now we are seeing many other tech stalwarts join the AI Party,&#8221; Ives wrote, listing Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>), ServiceNow Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), Dell Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>), IBM Common Stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) among the companies making significant moves in artificial intelligence.
The analyst expressed optimism about the technology sector&#8217;s near-term prospects, stating, &#8220;We believe the next phase of the AI Revolution has begun.&#8221; He expects this momentum, combined with strengthening enterprise spending and a recovery in digital advertising, to push technology stocks higher through the end of the year.
This expanding AI landscape indicates a broader range of investment opportunities beyond the few companies that initially dominated the AI narrative earlier in the year, according to Ives.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">While Nvidia and Microsoft are the core drivers of AI, now we are seeing many other tech stalwarts join the AI Party including Oracle, SAP, ServiceNow, Palantir, Salesforce, Dell, IBM, Apple, and AMD among others &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f; <a href="https://t.co/kfpqGZYmYu">https://t.co/kfpqGZYmYu</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1848061647484760323?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site</a>
Why It Matters: The anticipation of a strong third quarter for tech firms aligns with recent trends in the industry. Nvidia remains a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41410262/ai-creates-generational-opportunity-why-nvidia-analyst-says-stock-will-hit-190">top pick within the AI sector</a>, with analysts labeling it a &#8220;generational opportunity&#8221; due to its dominant market position in AI chips. 
This sentiment is echoed by Taiwan Semiconductor Mfg. Co. Ltd.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) recent earnings, which <a href="https://www.benzinga.com/news/earnings/24/10/41373163/nvidia-supplier-tsmc-reports-q3-revenue-earnings-beat-amid-rising-demand-for-ai-chips">exceeded expectations due to strong demand</a> for AI chips, further supporting the bullish outlook for tech companies.
Additionally, the third quarter earnings preview suggests that the tech sector is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41280243/q3-earnings-preview-analyst-predicts-tech-will-triumph-while-energy-will-struggle">poised to outperform</a>, while other sectors like energy may face challenges. 
This optimism is further supported by increased ad spending, as seen with Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), where analysts have raised price targets ahead of its earnings report, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41390020/analysts-lift-price-targets-on-meta-platforms-stock-ahead-of-q3-earnings-heres-why">driven by strong ad spending</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41401233/tech-bull-says-investors-should-take-advantage-of-amazon-stocks-period-of-relative-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tech Bull Says Investors Should Take &#8216;Advantage&#8217; Of Amazon Stock&#8217;s &#8216;Period Of Relative Underperformance&#8217; Ahead Of Q3 Earnings</a></li>
</ul>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Dan Ives Acknowledges Nvidia, Microsoft As 'Core Drivers Of AI' But Sees Palantir, IBM, AMD And Apple Joining The Party As Well — Robust Q3 Earnings Expected

SAP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) is preparing to release its quarterly earnings on Monday, 2024-10-21. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect SAP to report an earnings per share (EPS) of $1.33.
SAP bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Earnings Track Record</h3>
In the previous earnings release, the company missed EPS by $0.01, leading to a 7.13% increase in the share price the following trading session.

<img src="https://www.benzinga.com/files/images/story/2024/1729260060_0.png" alt="eps graph" />
<h3>Performance of SAP Shares</h3>
Shares of SAP were trading at $228.84 as of October 17. Over the last 52-week period, shares are up 74.12%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Insights Shared by Analysts on SAP</h3>
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding SAP.
Analysts have provided SAP with 5 ratings, resulting in a consensus rating of Outperform. The average one-year price target stands at $242.0, suggesting a potential 5.75% upside.
<h3>Comparing Ratings Among Industry Peers</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of Salesforce, Adobe and Intuit, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>As per analysts' assessments, Salesforce is favoring an Outperform trajectory, with an average 1-year price target of $309.49, suggesting a potential 35.24% upside.</li>
<li>Adobe is maintaining an Outperform status according to analysts, with an average 1-year price target of $625.79, indicating a potential 173.46% upside.</li>
<li>Intuit received a Outperform consensus from analysts, with an average 1-year price target of $744.3, implying a potential 225.25% upside.</li>
</ul>
<h3>Peer Analysis Summary</h3>
The peer analysis summary presents essential metrics for Salesforce, Adobe and Intuit, unveiling their respective standings within the industry and providing valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>SAP</td>
<td>Outperform</td>
<td>9.72%</td>
<td>$6.02B</td>
<td>2.10%</td>
</tr>
<tr>
<td>Salesforce</td>
<td>Outperform</td>
<td>8.39%</td>
<td>$7.17B</td>
<td>2.44%</td>
</tr>
<tr>
<td>Adobe</td>
<td>Outperform</td>
<td>10.59%</td>
<td>$4.85B</td>
<td>11.46%</td>
</tr>
<tr>
<td>Intuit</td>
<td>Outperform</td>
<td>17.40%</td>
<td>$2.40B</td>
<td>-0.11%</td>
</tr>
</tbody>
</table>

Key Takeaway:
SAP ranks at the top for Gross Profit and Revenue Growth among its peers. It is in the middle for Return on Equity.
<h3>Discovering SAP: A Closer Look</h3>
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.
<h3>SAP: Delving into Financials</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: SAP's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 9.72%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: SAP's net margin excels beyond industry benchmarks, reaching 10.71%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): SAP's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 2.1%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): SAP's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 1.24%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: SAP's debt-to-equity ratio is below the industry average. With a ratio of 0.23, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<a href="https://www.benzinga.com/quote/SAP/earnings">To track all earnings releases for SAP visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Look Ahead: SAP's Earnings Forecast

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/587639df5064ed0001400135/david-manthey">Baird analyst David Manthey</a> upgraded the rating for W.W. Grainger, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWW#NYSE">GWW</a>) from Neutral to Outperform and raised the price target from $975 to $1,230. Grainger shares closed at $1,085.57 on Tuesday. <a href="https://www.benzinga.com/quote/GWW/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities analyst David Begleiter upgraded Westlake Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLK#NYSE">WLK</a>) from Underperform to Neutral and boosted the price target from $151 to $159. Westlake shares closed at $141.80 on Tuesday. <a href="https://www.benzinga.com/quote/WLK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Atif Malik upgraded the rating for Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) from Neutral to Buy and increased the price target from $52 to $62. Cisco shares closed at $54.08 on Tuesday. <a href="https://www.benzinga.com/quote/CSCO/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Cleveland Research upgraded the rating for SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) from Neutral to Buy. SAP shares closed at $229.52 on Tuesday. <a href="https://www.benzinga.com/quote/SAP/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Raymond James analyst Steven Seedhouse upgraded Wave Life Sciences Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WVE#NASDAQ">WVE</a>) from Outperform to Strong Buy and increased the price target from $13 to $22. WAVE Life Sciences shares closed at $8.56 on Tuesday. <a href="https://www.benzinga.com/quote/WVE/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying CSCO stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="517" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/16144213/image-130-1024x517.png" alt="" class="wp-image-599072" style="width:632px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/16144213/image-130-1024x517.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/16144213/image-130-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/16144213/image-130-768x388.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/16144213/image-130.png 1297w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/news/24/10/41358280/united-airlines-posts-upbeat-earnings-joins-morgan-stanley-u-s-bancorp-and-other-big-stocks-moving-h">United Airlines Posts Upbeat Earnings, Joins Morgan Stanley, U.S. Bancorp And Other Big Stocks Moving Higher On Wednesday</a></li>
</ul>

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This Cisco Analyst Turns Bullish; Here Are Top 5 Upgrades For Wednesday

Cleveland Research upgrades SAP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) from Neutral to Buy.

Cleveland Research Upgrades SAP to Buy

SAP's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) short percent of float has fallen 16.67% since its last report. The company recently reported that it has 1.69 million shares sold short, which is 0.15% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.43 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>SAP Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729023323_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for SAP has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing SAP's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, SAP's peer group average for short interest as a percentage of float is 3.32%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into SAP's Recent Short Interest

Investors may be worried about the future of the computer and technology sector, especially now that the former darling in the space, NVIDIA Co., is threatening to go into a correction in potentially the coming months. However, recent economic data suggests that there are other names in the space that are still worth taking another look into.
These stocks share the same characteristics that the manufacturing PMI index reported in its latest issue, so the odds are in favor of bulls in MicroStrategy Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>), SAP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sap#NYSE">SAP</a>), and even PTC Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ptc#NASDAQ">PTC</a>). These names would expose investors to the potential bull runs that could be seen in the cryptocurrency space as interest rate cuts work their way through Bitcoin and give it a run higher.
More than that, finance is now relying on software applications and increased technology implementation in daily operations, and this portfolio aligns investors with that rising demand trend as well. Not to mention the artificial intelligence capabilities needed in the product development and visualization space. Here are some of the fundamental and technical factors that place the odds in favor of these companies this cycle.
<h2>Key Fundamental Drivers Fueling the Computer Software Industry</h2>
The main drivers in the manufacturing PMI index are new orders, production, and inventories. Both new orders and output moved significantly over the last report, with inventories contracting aggressively, which signals upcoming demand across the sector.
But not all industries are made equal. The computer and electronics industries share the same dynamics, meaning investors can expect to see added and accelerating demand in the space. Even then, not all stocks are made equal, so ideally, those with premium forward P/E valuations and above-average earnings per share (EPS) growth will make for better candidates.
<h2>Long Candidate #1: MicroStrategy&#39;s Bitcoin</h2>
The last time the Federal Reserve (the Fed) cut interest rates, the price of Bitcoin more than doubled. This time, history could repeat itself, which is why MicroStrategy is increasing its balance sheet Bitcoin holdings so that the stock&#39;s book value will rise with it.
Even though the stock trades at 82% of its 52-week high, Wall Street analysts still believe it could reach a new high before the year ends. Benchmark leads the way with a price target set at $215 a share for MicroStrategy stock, which calls for a net upside of 30% from where the stock trades today.
Moreover, bearish traders have been forced to cover their short positions over the past quarter. MicroStrategy&#39;s short interest fell from $5.3 billion last quarter to $3.6 billion today, with a 2.9% contraction in the past month alone. Replacing these bears were some institutional buyers that were added recently.
Leading the buying were those at Park Avenue Securities, boosting their holdings by over 1,000% as of October 2024, bringing their net investment to $1.2 million today.
<h2>Long Candidate #2: Banks Need SAP</h2>
The financial sector is now increasingly dependent on technology and software for operations and risk management processes, and SAP stock is a major provider of these processes.
Since the stock has traded up to 95% of its 52-week high, investors can start to see the market reward the name with bullish momentum.
As of September 2024, analysts at Barclays decided to boost their price target on SAP stock to $252 a share and keep their &quot;Overweight&quot; ratings. To prove these analysts right, the stock would need to rally by 14.5% from its current level.
Wall Street analysts think that there will be additional demand for SAP&#39;s services in the coming months, so they forecast up to 52.7% EPS growth for the next 12 months. Based on these expectations, the market is now willing to pay a 34.5x forward P/E ratio over the industry&#39;s average of 28.4x.
<h2>Long Candidate #3: Labor Costs Aided By PTC&#39;s AI</h2>
Now that inflation is pushing the price of everything higher, especially labor, some companies may look to artificial intelligence to help them lower their costs and expand their margins and net profits. This is where the PTC expertise comes into play.
The stock is currently trading at 92% of its 52-week high, making for another bullish momentum play favoring investors. Based on the consensus price target, current analyst ratings suggest the stock could have a valuation as high as $200.2 a share, or a 12% upside from today&#39;s stock price.
With Wall Street EPS growth forecasts set at 19.8% for the next 12 months, investors now can see why the market is willing to pay a premium forward P/E valuation of up to 30.0x over the industry&#39;s average, as stocks that tend to grow above peers command these higher multiples.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/massive-potential-3-tech-stocks-positioned-for-breakout-success/">Massive Potential: 3 Tech Stocks Positioned for Breakout Success</a>&quot; first appeared on MarketBeat.

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Massive Potential: 3 Tech Stocks Positioned for Breakout Success

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SAP shares are trading higher after the company unveiled AI-powered innovative business tools to enhance productivity and data use at its SAP TechEd conference.

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4271859-1&amp;h=3144815455&amp;u=http%3A%2F%2Fwww.sap.com%2F&amp;a=SAP+SE">SAP SE</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) today unveiled groundbreaking AI innovations across a technology foundation that drives 87% of global commerce, putting its generative AI copilot Joule at the center of a new way of doing business. At its annual SAP TechEd conference, SAP announced powerful new capabilities that complement and extend Joule, including collaborative AI agents imbued with custom skills to complete complex cross-disciplinary tasks. Other innovations include the SAP Knowledge Graph, a next-generation solution poised to help developers unlock the full value of SAP data by connecting it with rich business context, and new tools to ensure developers can continue driving Business AI innovation.
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"SAP's innovation drives real business outcomes, and today's advancements help customers harness the power of AI, data and new development solutions to catalyze growth," said Muhammad Alam, member of the Executive Board of SAP SE, SAP Product Engineering. "Drawing on SAP's unmatched business and technology expertise, the AI innovations we're announcing at TechEd forge a new human-AI partnership to transform the landscape of modern business."
Supercharging Joule
On the eve of its first birthday, Joule marks a watershed in how business gets done. SAP introduces collaborative AI agents to a copilot that truly speaks the language of business, expands Joule's capabilities to support 80% of SAP's most-used business tasks and embeds Joule more deeply within the company's portfolio.
Collaborative multi-agent systems deploy specialized AI agents to tackle specific tasks and enable them to collaborate on intricate business workflows, adapting their strategies to meet shared objectives. SAP is infusing Joule with multiple collaborative AI agents that will combine their unique expertise across business functions to collaboratively accomplish complex workflows. These AI agents enhance productivity by breaking down silos and freeing workers to concentrate on areas where human ingenuity thrives.&nbsp;
Two use cases debuted at TechEd showcase the agents' transformative power:
<ul>
<li>A dispute management use case employs autonomous AI agents to analyze and resolve dispute resolution scenarios including incorrect and missing invoices, unapplied credits and denied or duplicate payments.</li>
<li>A financial accounting use case employs autonomous AI agents to streamline key financial processes by automating bill payments, invoice processing, and ledger updates while quickly addressing inconsistencies or errors.&nbsp;</li>
</ul>
Harnessing the Power of Data
SAP's AI innovations also draw on the company's unmatched business data expertise. The new SAP Knowledge Graph solution, accessible through SAP&nbsp;Datasphere and Joule in Q1 2025, will give users a deeper layer of business understanding by seamlessly mapping relationships and context across SAP's vast data landscape, empowering organizations to make better decisions with their data. By offering ready-to-use relationships between business entities like purchase orders, invoices, and customers, the solution can significantly reduce the complexity of manual data modeling. SAP Knowledge Graph grounds AI in SAP-specific business semantics, which reduces the risk of inaccurate or irrelevant results and makes it easier for organizations to build intelligent applications and leverage generative AI more effectively.
Empowering Developers
SAP also launched a swathe of innovations for developers to continue driving Business AI innovation. New generative AI developer capabilities such as code explanation and documentation search in SAP Build, the company's platform for extending its solutions, will reduce development time for Java and JavaScript developers. SAP Build is also adding an Extensibility Wizard feature that will let developers access SAP Build directly from SAP S/4HANA Cloud Public Edition, simplifying the extension process. Meanwhile,&nbsp;ABAP developers and fusion teams will get seamless access to ABAP Cloud development tools from SAP Build.
Finally, SAP announced that it has already fulfilled its pledge to upskill 2 million people worldwide by 2025. Through its <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4271859-1&amp;h=873597262&amp;u=https%3A%2F%2Flearning.sap.com%2F&amp;a=learning+opportunities">learning opportunities</a>, the company has lowered the world's digital skills gap through role-based certifications, free training materials, hands-on opportunities for developers, and more. SAP continues to expand its growing portfolio of AI-related learning opportunities, including courses on generative AI, AI ethics, and SAP's advanced AI tools and platforms.

SAP Unveils AI-Powered Business Tools, Enhancing Productivity and Data Use

5 analysts have shared their evaluations of SAP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $242.0, a high estimate of $252.00, and a low estimate of $214.00. Marking an increase of 8.72%, the current average surpasses the previous average price target of $222.60. 
<img src="https://www.benzinga.com/files/images/story/2024/1727730023_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The analysis of recent analyst actions sheds light on the perception of SAP by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Raimo Lenschow</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$252.00</td>
<td>$251.00</td>
</tr>
<tr>
<td>Raimo Lenschow</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$251.00</td>
<td>$217.00</td>
</tr>
<tr>
<td>J. Derrick Wood</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$214.00</td>
<td>$188.00</td>
</tr>
<tr>
<td>Patrick Walravens</td>
<td>JMP Securities</td>
<td>Raises</td>
<td>Market Outperform</td>
<td>$245.00</td>
<td>$220.00</td>
</tr>
<tr>
<td>Keith Bachman</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$248.00</td>
<td>$237.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to SAP. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of SAP compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of SAP's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
For valuable insights into SAP's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/SAP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on SAP analyst ratings.</a>
<h2>Get to Know SAP Better</h2>
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.
<h3>Unraveling the Financial Story of SAP</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: SAP's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 9.72%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 10.71%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): SAP's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 2.1%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 1.24%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.23.
<h2>The Basics of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Navigating 5 Analyst Ratings For SAP

Barclays analyst Raimo Lenschow maintains SAP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) with a Overweight and raises the price target from $251 to $252.

Barclays Maintains Overweight on SAP, Raises Price Target to $252

<a href="https://www.bloomberg.com/news/articles/2024-09-26/sap-staff-morale-plunges-in-internal-survey-amid-restructuring">https://www.bloomberg.com/news/articles/2024-09-26/sap-staff-morale-plunges-in-internal-survey-amid-restructuring</a>
&nbsp;
SAP SE is facing swelling discontent among employees in its home market, according to an internal survey, as Chief Executive Officer Christian Klein pushes through a restructuring plan announced in January.&nbsp;

'SAP Staff Morale Plunges In Internal Survey Amid Restructuring' - Bloomberg News

SAP shares are trading lower amid reports of the DOJ investigating the company and Carahsoft for alleged price fixing.

The U.S. Department of Justice (DOJ) is investigating German software giant SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) and U.S. reseller Carahsoft Technology.
What Happened: The DOJ is investigating two companies over allegations of conspiring to overcharge U.S. government agencies. The civil probe, which has been ongoing since at least 2022, focuses on potential price-fixing schemes involving $2 billion worth of SAP technology sold to U.S. military and government agencies since 2014.
The DOJ is also examining other software resellers, including a unit of Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), for possible involvement in this market manipulation. The investigation came to light after federal agents raided Carahsoft's Virginia offices, seizing documents and computers. Prosecutors have since filed suit against Carahsoft, to enforce demands for internal communications related to these SAP sales.
Why It Matters: Carahsoft is an important firm in federal technology procurement. Since 2020, the firm has secured more than $3.5 billion in contracts. 
SAP technology accounts for a large share of this business, with Carahsoft facilitating over 600 contracts worth nearly $1 billion. If bid-rigging inflated prices on these deals, the government agencies could have been significantly overcharged over the last decade.
Also Read:&nbsp; <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41025381/exclusive-novo-nordisk-faces-political-heat-over-weight-loss-drug-prices-ahead-of-e">EXCLUSIVE: Novo Nordisk Faces Political Heat Over Weight-Loss Drug Prices Ahead Of Elections, Yet &#8216;The Real Issue Is With The Middlemen&#8217;</a>
Repeated Offenders: Both firms have previously faced legal issues. Carahsoft and VMware paid $75.5 million in 2015 to settle claims of overcharging the government. Recently, SAP settled a $222 million bribery case involving seven countries, including South Africa and Indonesia, further intensifying scrutiny on the company's practices.
Bloomberg<a href="https://www.bloomberg.com/news/articles/2024-09-25/us-probing-tech-firms-sap-carahsoft-for-potential-price-fixing"> reported</a> SAP confirmed it is cooperating fully with the DOJ and stressed that no criminal charges have been filed.
Following the news, SAP and Carahsoft have not cancelled a two-day Executive Summit in San Francisco starting today. The event aims to explore future IT trends and innovations and will feature participants such as Data Scientific CEO Cassie Kozyrkov, bestselling author Sol Rashidi and former OpenAI's Head of Go-To-Market Zack Kass.
Carahsoft has not immediately responded to Benzinga's request for comment.
Price Action: Following the news, SAP stock fell 2.91% to $224.21 on Wednesday. It remains one of the best-performing European large-cap stocks, with a year-to-date gain of around 47%.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41024067/mortgage-demand-soars-as-fed-interest-rate-cut-fuels-housing-market-revival-next-sp"> </a> • <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41024067/mortgage-demand-soars-as-fed-interest-rate-cut-fuels-housing-market-revival-next-sp">Mortgage Demand Soars As Fed Interest Rate Cut Fuels Housing Market Revival: &#8216;Next Spring Could See A Real Rebound&#8217;</a>

Photo: Shutterstock

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Department Of Justice Investigates SAP, Carahsoft In $2B Price-Fixing Probe

Gainsight And SAP Announce Strategic Partnership To Boost Customer Retention And Revenue Growth Through Integration Of Gainsight CS And SAP Sales Cloud, Unifying Customer Experience Across Teams

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MicroCloud Hologram Inc. - Ordinary Shares

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Shares of software companies are trading higher amid overall market strength following Wednesday's Fed rate cut.

SAP SE&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sap#NYSE">SAP</a>) stock is continuing its upward trajectory, with a gain of 36.7% in the year to date compared with 13.3% and 6.2% growth of the S&amp;P 500 composite and the sub-industry, respectively.
The company is currently trading at a nearly 4.5% discount to its 52-week high of $221.24, reached on Aug. 29, 2024. This pullback from the recent peak might offer a strategic buying opportunity for investors looking to capitalize on potential gains.
With healthy fundamentals and strong growth opportunities, this Zacks Rank #2 (Buy) stock appears to be a solid investment option at the moment.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ca/76992.jpg?v=735422294" />
Image Source: Zacks Investment Research
Apart from a favorable rank, SAP has a VGM Score of B. Per Zacks&#39; proprietary methodology, stocks with a combination of a Zacks Rank #1 (Strong Buy) or 2 and Growth Score of A or B offer solid investment opportunities.
<h2>SAP&#39;s Thriving Cloud Business</h2>
SAP has been concentrating on expanding its cloud business to become one of the leading players in the category. In the last reported quarter, the current cloud backlog &mdash; a key indicator of go-to-market success in cloud business &mdash; soared 28% (both at nominal and cc basis) to &euro;14.8 billion.
Increasing demand for Rise with SAP solution remains the biggest driver. This solution helps companies transform its business processes and operations to become more nimble, digital and intelligent. SAP solution continues to gain significant traction and will aid the company in driving its market share in the cloud ERP solutions space.
Rise with SAP will also help the company boost the uptake of its SAP S/4HANA solution by providing its customers with more options for implementation and support from certified partners. Momentum in other cloud offerings like Grow with SAP and SAP Datasphere, as well as strategic acquisitions and collaborations, bodes well for its cloud business.
In the second quarter of 2024, SAP&#39;s cloud revenues were &euro;4.15 billion, up 25% year over year on a non-IFRS basis (nominal and cc). The uptick resulted from notable 33% growth in Cloud ERP Suite revenues, highlighting the effectiveness of SAP&#39;s Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) solutions.
SAP&#39;s cloud business strength was prominent across India, Japan, South Korea, Germany, Brazil and Canada. This business strength also remained strong in the United States, Saudi Arabia and China.
<h2>SAP&#39;s Robust Outlook for Cloud Business</h2>
Given the strong momentum in the cloud business, management anticipates 2024 cloud revenues in the range of &euro;17-&euro;17.3 billion, which indicates an increase of 24-27% at cc on a year-over-year basis. Cloud and software revenues are expected to be between &euro;29 billion and &euro;29.5 billion, respectively, which implies 8-10% growth at cc on a year-over-year basis. 
SAP expects cloud revenues of more than &euro;21.5 billion and total revenues of more than &euro;37.5 billion for 2025.
<h2>SAP Focused on Generative AI</h2>
SAP remains optimistic about the generative AI trend. In April 2024, SAP announced significant advancements in AI for supply chain solutions, aiming to redefine productivity and efficiency in manufacturing sectors. The company announced a collaboration with IBM and Amazon Web Services to make strides in GenAI capabilities and unlock potential business opportunities.
Management announced that it would focus on vital strategic growth areas, especially Business AI and position the company for growth, earlier in 2024. SAP intensified its restructuring efforts, expecting total expenses of roughly &euro;3 billion. This initiative is crucial for aligning SAP&#39;s workforce and resources with long-term business strategies.
Nonetheless, softness in the Software license and support business segment coupled with global macroeconomic weakness are concerning. Increasing costs and stiff competition in the cloud space are additional headwinds.
<h3>SAP&#39;s Estimates Northbound</h3>
The Zacks Consensus Estimate for SAP&#39;s 2024 and 2025 revenues is pegged at $36.7 billion and $40.6 billion, respectively, which indicates growth of 8.8% and 10.6% from the year-ago levels.
The consensus estimate for 2024 EPS is pegged at $4.83. For 2025 EPS, the consensus estimate is anticipated at $6.33, implying a rise of 31.2 % from the prior-year actual.
The Zacks Consensus Estimate for 2024 and 2025 EPS has increased 5% and 3.3%, respectively, in the past 60 days, reflecting analysts&#39; optimism.
<h2>Other Stocks to Consider</h2>
Some other top-ranked stocks worth consideration in the broader technology space are Manhattan Associates (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/manh#NASDAQ">MANH</a>), Adobe (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adbe#NASDAQ">ADBE</a>) and ANSYS (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/anss#NASDAQ">ANSS</a>). While Manhattan Associates sports a Zacks Rank #1, Adobe and ANSYS carry a Zacks Rank #2 each, at present.
The Zacks Consensus Estimate for Adobe&#39;s fiscal 2024 EPS is pegged at $18.16, unchanged in the past 30 days. ADBE&#39;s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 2.7%. The long-term earnings growth rate is 13%. Its shares have declined 0.2% in the past year.
The Zacks Consensus Estimate for ANSS&#39; 2024 earnings is pegged at $9.96, unchanged in the past 30 days. ANSS&#39; earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing the mark once, with the average surprise being 4.8%. Its shares have declined 3.2% in the past year.
The Zacks Consensus Estimate for MANH&#39;s 2024 EPS is pegged at $4.26, unchanged in the past 30 days. MANH&#39;s earnings beat the Zacks Consensus Estimate in each of the last four quarters, with the average surprise being 26.6%. The stock has surged 23.4% in the past year.
<a href="https://www.zacks.com/stock/news/2333400/sap-stock-surges-37-year-to-date-will-the-rally-continue?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2333400">To read this article on Zacks.com click here.</a>

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SAP Stock Surges 37% Year to Date: Will the Rally Continue?

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Shares of companies within the broader technology sector are trading higher amid overall market strength following softer-than-expected PPI figures.

Barclays analyst Raimo Lenschow maintains SAP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) with a Overweight and raises the price target from $217 to $251.

Barclays Maintains Overweight on SAP, Raises Price Target to $251

Software overweight positions hits lowest rate ever in Jefferies' survey

Thornburg Global Opportunities Fund Q3 2024 Commentary

Recent data reveals that the eurozone economy has narrowly skirted a recession, showing lukewarm yet positive growth. With the EU and euro area expected to grow steadily over the next two years, investing in quality stocks like Novo Nordisk (NVO), SAP SE (SAP), and Shell plc (SHEL) could be beneficial. Learn more… Europe's slow but steady recovery presents a fertile ground for investors to consider investing in fundamentally sound companies like Novo Nordisk A/S (<a href="https://stocknews.com/stock/NVO/">NVO</a>), SAP SE (<a href="https://stocknews.com/stock/SAP/">SAP</a>), and Shell plc (<a href="https://stocknews.com/stock/SHEL/">SHEL</a>), which are well-positioned to capitalize on the region's improving economic landscape.
The eurozone has been flirting with recession for over a year, but recent indicators offer hope. Industrial output <a href="https://www.reuters.com/markets/europe/euro-zone-banks-see-rebound-loan-demand-rates-fall-ecb-survey-shows-2024-10-15/">increased by 1.8%</a> in August, slightly above expectations, with capital and durable consumer goods driving demand. Germany, the largest economy in the region, saw a 3% surge in output. While the broader eurozone's annual output growth remains weak, this uptick suggests there's life in the region's industrial sector.
Meanwhile, investor sentiment in Germany is also improving, with the ZEW economic sentiment index <a href="https://www.reuters.com/markets/europe/german-investor-morale-recovers-october-2024-10-15/">rising to 13.1 points</a> in October, pointing to increasing optimism around growth prospects. Inflation has also eased, <a href="https://www.europarl.europa.eu/RegData/etudes/BRIE/2020/645716/IPOL_BRI(2020)645716_EN.pdf">dipping to 2.2%</a>, opening the door for potential interest rate cuts by the European Central Bank.
Moreover, expectations for stable inflation and China's stimulus measures boosting export demand further enhance the region's outlook. The EU economy is expected to grow by 1.0% in 2024 and <a href="https://economy-finance.ec.europa.eu/economic-forecast-and-surveys/economic-forecasts/spring-2024-economic-forecast-gradual-expansion-amid-high-geopolitical-risks_en">1.6% in 2025</a>, while the euro area is expected to grow by 0.8% in 2024 and 1.4% in 2025.
Given this backdrop, companies like NVO, SAP, and SHEL seem well-positioned to benefit from Europe's economic rebound. Let's delve into the fundamental aspects of these stocks in detail:
Novo Nordisk A/S (<a href="https://stocknews.com/stock/NVO/">NVO</a>)
Headquartered in Bagsvaerd, Denmark, NVO is a global healthcare company that discovers, develops, manufactures, and markets pharmaceutical products. It operates through two business segments: Diabetes and Obesity care; and Biopharm.
On October 8, NVO launched the Childhood Obesity Prevention Initiative, targeting disadvantaged urban communities in six cities across five continents. With an investment of over 250 million Danish kroner ($36.51 million), this three-year initiative aims to promote physical activity and healthy eating among children to combat obesity.
In June, the company announced a $4.1 billion investment to expand US manufacturing capacity by building a second fill and finishing manufacturing facility in Clayton, North Carolina. This will grow the facility's ability to produce current and future injectable treatments for people with obesity and other serious chronic diseases.
For the first half of the year that ended June 30, 2024, NVO's net sales increased 23.9% year-over-year to Kr133.41 billion ($19.48 billion), while its operating profit came in at Kr57.78 billion ($8.44 billion) up 18.2% year-over-year. The company's net profit came in at Kr45.46 billion ($6.64 billion) and Kr10.17 per share, representing 15.8% and 16.8% increases year-over-year, respectively.
The consensus <a href="https://www.investopedia.com/terms/e/eps.asp">EPS</a> estimate of $0.85 for the fiscal third quarter (ended September 2024) represents a 19.6% improvement year-over-year. The consensus revenue estimate of $10.52 billion for the about-to-be-quarter represents a 25.9% increase from last year. The company has an impressive surprise history; it surpassed the consensus EPS estimates in each of the trailing four quarters.
Over the past year, the stock has gained 15.3%, closing the last trading session at $117.81.
NVO's promising fundamentals are apparent in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
It has an A grade for Quality and is ranked #23 out of 159 stocks in the <a href="https://stocknews.com/category/pharmaceuticals/">Medical - Pharmaceuticals</a> industry. <a href="https://stocknews.com/stock/NVO/">Click here</a> to see the additional ratings for NVO (Growth, Value, Momentum, Stability, and Sentiment).
SAP SE (<a href="https://stocknews.com/stock/SAP/">SAP</a>)
SAP is a Germany-based company that offers enterprise application software. It operates through three segments: Applications, Technology &amp; Services; the SAP Business Network; and the Customer Experience.
On September 12, the company completed its acquisition of WalkMe Ltd. (<a href="https://stocknews.com/stock/WKME/">WKME</a>) for $1.5 billion in an all-cash deal. WKME's digital adoption platform will enhance SAP's Business Transformation Management portfolio, including SAP Signavio and SAP LeanIX, by improving workflow execution and user experience. Its AI technology will also power SAP's Joule copilot, offering context-aware assistance to boost workflow productivity.
SAP's total revenue for the second quarter (ended June 30, 2024) increased 9.7% year-over-year to €8.29 billion ($9.03 billion). Its gross profit grew 11.2% from the year-ago value to €6.02 billion ($6.56 billion).
The company's cash inflow from operating activities amounted to €1.54 billion ($4.78 billion), representing an 81.6% improvement from the same period last year. Also, its free cash flow stood at €1.29 billion ($1.41 billion), up 113.7% year-over-year.
Analysts expect SAP's revenue for the fourth quarter (ending December 2024) to grow 7.7% year-over-year to $9.89 billion, while its EPS for the same period is expected to increase 3.8% from the prior year to $1.59. Also, it topped the revenue estimates in three of the trailing four quarters.
The stock has gained 78.2% over the past year to close the last trading session at $229.52.
SAP's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It also has a B grade for Stability, Sentiment, and Quality. Out of 131 stocks in the <a href="https://stocknews.com/category/software-application/">Software – Application</a> industry, SAP is ranked #24. <a href="https://stocknews.com/stock/SAP/">Click here</a> to see SAP's Growth, Value, and Momentum ratings.
Shell plc (<a href="https://stocknews.com/stock/SHEL/">SHEL</a>)
SHEL is an international energy and petrochemical company headquartered in London, United Kingdom. The company is engaged in the exploration, production, refining, and marketing of oil and natural gas, as well as the manufacturing and marketing of chemicals. Its businesses include Upstream, Integrated Gas, Renewables and Energy Solutions, and Downstream.
On September 9, the company paid an interim dividend for the second quarter of 2024 of $ 0.34 per ordinary share. SHEL pays an annual dividend of $2.73, which translates to a yield of 4.13% at the current share price. Its four-year average dividend yield is 3.11%.
On August 14, Shell Offshore Inc., a subsidiary of SHEL, announced its Final Investment Decision (FID) for a water injection project at the Vito asset in the U.S. Gulf of Mexico. Set to begin in 2027, the waterflood process aims to boost oil recovery by displacing additional oil in the reservoir. This investment is expected to increase production capacity and deliver high-margin, lower-carbon barrels from the company's Upstream business.
During the fiscal second quarter, which ended June 30, 20234, SHEL's total revenue and other income amounted to $75.06 billion, while its adjusted earnings grew 24% from the year-ago value to $6.29 billion. The company's adjusted EBITDA increased 16.4% year-over-year to $16.81 billion. Also, its adjusted EPS rose 32% from the prior year's quarter to $0.99.
Street expects SHEL's revenue for the fiscal third quarter (ended September 2024) to increase 2.2% year-over-year to $77.99 billion, while its EPS for the same period is expected to come in at $1.73. Moreover, it beat the EPS estimates in three of the trailing four quarters, which is promising.
Shares of SHEL have gained 3.6% over the past nine months to close the last trading session at $66.08.
It is no surprise that SHEL has an overall rating of B, equating to a Buy in our POWR Ratings system. It has a B grade for Stability and Quality. Within the <a href="https://stocknews.com/category/energy-oil-gas/">Energy - Oil &amp; Gas</a> industry, it is ranked #6 out of 77 stocks.
In addition to the POWR Rating grades I've just highlighted, you can see SHEL's Growth, Value, Momentum, and Sentiment ratings <a href="https://stocknews.com/stock/SHEL/">here</a>.
What To Do Next?
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NVO shares were trading at $117.58 per share on Wednesday afternoon, down $0.23 (-0.20%). Year-to-date, NVO has gained 14.54%, versus a 23.33% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/nvo-sap-shel-wkme-3-european-stocks-to-buy-as-the-region-recovers/>3 European Stocks to Buy as the Region Recovers</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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