Report
Rodney Nelson
EUR 147.86 For Business Accounts Only

SAP’s Cloud Business Making Headway Behind S/4HANA, Acquired Properties

SAP’s cloud migration continued to make solid progress in the company’s third quarter, as management called out its core S/4HANA business suite along with Ariba, Concur, Fieldglass, and Hybris as accelerators for the firm’s cloud business. Roughly 10% of SAP’s ERP customer base has migrated to S/4HANA, representing solid progress in our view. We are maintaining our narrow moat rating, and we are slightly raising our fair value estimates to EUR 70 per share and $77 per ADR from EUR 67 and $75 pre...
Underlying
SAP SE

SAP is engaged in selling licenses for software solutions and related support services. Co. derives its revenue from fees charged to its customers for the use of its cloud solutions and for licensing of on-premise software products and solutions. Additional sources of revenue are support, professional services, development, training, and other services. Co. has more than 300,000 customers in over 180 countries. Co.'s SAP HANA platform holds the ability to simplify both the user experience and the overall IT landscape, creating a smaller data footprint, increased system throughput, and easier data processing and operation.

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
Rodney Nelson

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