SAP shares are rising on the German market: financial experts are monitoring developments and predicting a new all-time high.

SAP shares are rising on the German market: financial experts are monitoring developments and predicting a new all-time high.

According to a report from www.ariva.de,

The SAP share is currently up 1.02 euros and is now trading at 149.90 euros. This puts the security ahead of the TecDAX, which currently stands at 3,288 points. If SAP shares increase by more than 0.24 percent in the next few days, a new all-time high could be reached.

SAP SE is known as the world's leading developer and provider of business software. The company offers a variety of products and solutions for various sectors of the economy.

SAP shares have competitors such as Oracle and Microsoft, which also have positive price developments. Deutsche Bank Research has raised the price target for SAP from 145 to 170 euros and left the rating at “Buy”. 2024 is expected to be a good year for the software industry in Europe. The reason given is that falling interest rates are likely to provide room for rising valuations, particularly for companies in the software industry.

Baader Bank left the rating for SAP at “Add” with a price target of 140 euros ahead of the fourth quarter figures. The software manufacturer is likely to have performed solidly operationally and is expected to provide a decent outlook for 2024.

This positive trend in SAP shares and analysts' forecasts indicate that the company continues to have good business prospects and can maintain its growth potential in the market. However, it remains to be seen how developments will affect SAP shares over the remainder of 2024.