This has dropped to the Dax-end, the shares of the largest European software company on Monday. The share of Dax heavyweight slipped in the morning at 2.30 percent to 65.96 euros. But experts warned against overly negative view of the business performance.
Mohammed Moawalla Goldman Sachs said like other analysts also by disappointing sales of software licenses in the first quarter. This is particularly serious because just’ve made in the past six months for an overall positive mood in the SAP shares this division. In December, the paper had risen to a record high of 75.75 euro, with the general market weakness earlier this year but also SAP stock had to escape unscathed.
The Group is since a few years, be convert business model: Instead of licenses for sale, are to customers increasingly offered programs for rent. This brings the Wall villages steadier and of the economy more independent revenue, but stressed short term profits.
EXPERT relativize CUT
SAP have indeed certainly done no good start in 2016, the first quarter but is also by far the least important part of the year for the company, a dealer said this morning. Therefore, the basic data set not a disaster is.
SAP have in the last decade of often disappointed predictions in the first quarter, but then comes the full year, relativized Goldman analyst Moawalla cutting. In the analysts’ forecasts, he expected only small downward adjustments
CHART IMAGE becomes cloudy
With the losses, however, and the chart image became cloudy. The papers can their highly acclaimed 200-day not hold -line. Stock brokers now accept the central support at 65 euros targeted.
The British investment bank Barclays nevertheless maintained its buy rating on the stock with a price target of 100 euros. The weaker than imaginary cutting in business with software licenses in the first quarter should not be overstated, wrote analyst Gerardus Vos. The previous quarter was exceptionally strong and some transactions also seemed in the second quarter to move. Overall, the business of the software giant seemed to be going well.
Even Analyst Richard Nguyen of the French bank Societe Generale, which saw almost all indicators come in below expectations, listed as a positive point that Walldorfer annual targets have confirmed.
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