Report
John Barrett
EUR 100.00 For Business Accounts Only

Narrow-Moat SAP Risks Customer Switchbacks on Road to HANA; Lowering FVE to EUR 88

In our view, SAP is at a crossroads as it is in the early phases of a strategy to transform its product offering to focus more on the cloud. With the introduction of S/4HANA, SAP believes it can leverage its dominance in the enterprise resource planning market to gain a foothold in databases and steal share from competitors like Oracle and Microsoft. SAP introduced its new cloud ERP system, S/4, with the important caveat that the next-generation product only runs on SAP’s HANA database, thus pot...
Underlying
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
John Barrett

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