SAP Stock: Shares Hit Record High Amid Strong Performance

SAP SE's stock continues to demonstrate remarkable strength in the market, reaching a new peak of €243.40 in recent trading. This impressive performance represents a substantial gain of over 44% from the year's starting point of €134.42. The robust trading activity is evidenced by significant volume, with more than 668,000 shares changing hands. Recent insider transactions have caught market attention, with several board members executing sales at an average price of €236.43 per share, totaling more than €45,000 through the CBOE EUROPE - DXE Order Books. Despite these insider movements, the stock maintains a positive trajectory, showing a modest uptick of 0.17% to reach €241.90.

Financial Performance Underpins Growth

The company's strong market position is supported by solid business results, with SAP reporting a 9.38% increase in quarterly revenue to €8.47 billion. Earnings per share have also shown significant improvement, rising from €1.09 to €1.25. Looking ahead, analysts project earnings per share of €4.43 for 2024, with the current stock price already exceeding the average analyst target of €229.11, highlighting investor confidence in the software giant's growth prospects.