SAP’s (NYSE:SAP) stock has steadily climbed following a string of positive announcements including new product launches and strong earnings.SAP is making further inroads into the cloud computing market where it faces entrenched competitors like Oracle (NASDAQ:ORCL) and Microsoft (NASDAQ:MSFT), which are also pushing ahead in the enterprise cloud with new cloud based software offerings.
Check out our complete analysis for SAP
SAP’s core products continue to show steady growth, while its new offerings like HANA and the Sybase Unwired mobile platform show increased adoption within enterprises.
The company announced its earnings for Q3 on October 26, reporting higher than expected revenue growth of around 16% and 28% growth in new software sales. SAP also reported a boost in its operating profit, thanks to a reduction in a litigation provision that bumped up its operating profit by €723 million.
See our earnings note: SAP’s Software Sales, International Reach Show Impressive Growth.
Last week, SAP also announced a new cloud based version of its BusinessObjects on-demand business intelligence offering powered by the SAP HANA platform, which we expect will help it increase its marketshare in the business intelligence software market. [1]
Going forward, we have a positive outlook for SAP’s stock. We have revised our Trefis price estimate for SAP to $63 following the earnings, which is just ahead of its current market price.
Understand How a Company’s Products Impact its Stock Price at Trefis
Notes:
