SAP: Oddo BHF says Qualtrics is a 'strategic' acquisition
(CercleFinance.com) - This morning an analyst at Oddo BHF says that the acquisition of 100% of the capital of the US company Qualtrics - for 8 billion dollars - by SAP is an insignificant acquisition at the group level, albeit a strategic one.
This transaction may be slightly dilutive in 2019 (Oddo estimates -3% on adjusted EPS), although it is very strategic and aggressive in the battle that SAP is leading in the CRM segment against Salesforce, Adobe and Oracle. Furthermore, it opens the way to major commercial synergies, the broker says.
It adds that thanks to this acquisition of a leading in user/customer experience, SAP is adding a key brick that is growing to this market and will be able to offer Qualtrics' products to its entire CRM/ERP/HCM installed base.
The analyst is therefore maintaining his buy rating on the stock, with a target price of 121 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
This transaction may be slightly dilutive in 2019 (Oddo estimates -3% on adjusted EPS), although it is very strategic and aggressive in the battle that SAP is leading in the CRM segment against Salesforce, Adobe and Oracle. Furthermore, it opens the way to major commercial synergies, the broker says.
It adds that thanks to this acquisition of a leading in user/customer experience, SAP is adding a key brick that is growing to this market and will be able to offer Qualtrics' products to its entire CRM/ERP/HCM installed base.
The analyst is therefore maintaining his buy rating on the stock, with a target price of 121 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.