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SAP’s share value is still flying high, with good news soaring in two weeks after its earnings report. Tokyo-based financial consultancy Nomura Holdings repeated its Buy rating for SAP’s stock on Monday, as Paris-based Société Générale’s analysts did within days of SAP’s April 19 announcement.

Both firms now have a price target of $88.31 on the stock.

“SAP is a great investment idea as the current stock price of $78.87 is lower than the calculated intrinsic value of $83.56,” research analyst Vinayak Maheswaran said Thursday on Seeking Alpha. “SAP has a strong balance sheet and great revenue numbers over the last five years.”

Maheswaran was encouraged by SAP’s:

  • Greater dividend to shareholders
  • Long-term growth prospects
  • Stock price rising above the 20- and 50-day moving averages

“I have always been a firm believer in innovation,” Maheswaran said. “The recent pullback that we have seen in the stock price over the long term is a good opportunity for investors to buy more SAP stock.”

Ten investment banks have a Buy rating on SAP shares, according to Zolmax News, while eight have a Hold, and two rate the stock as a Sell. But there are lots of reasons for SAP investors to be optimistic.

“Everyone else is showing negative growth rates,” SAP co-CEO Jim Hagemann Snabe said on April 19, when the company announced its 13th consecutive quarter of double-digit growth. “We’re winning in the market.”

Follow Derek on Twitter: @DKlobucher

Related Media:

SAP AG Receives Buy Rating from Nomura (SAP)” in Zolmax News

Dividend Discount Model Reveals SAP AG Is Undervalued” in Seeking Alpha

VIDEO: ‘A Radical Transformation’ in IT Buoys SAP’s Q1 Results” in SAP Business Trends