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The SAP software giant has exceeded the manufacturer of Danish drugs Novo Nordisk to become a most precious company in Europe, on the last milestone for the booming stock market in Germany.
SAP The shares increased 0.6% on Monday, raising its market capitalization to more than 312 billion euros, just above that of Novo Nordisk, whose shares fell by 2.4%.
SAP shares have increased by more than 40% in the past year, investors have praised the transition from its commercial customers to the Cloud and that the group rose the wave of enthusiasm for artificial intelligence. SAP gains helped feed a Rally in the Bleu Dax index of Francfurt This has seen him surpass most of the world’s main stock markets in the world.
Novo Nordisk has lost half of its market value since last summer when it is fighting to convince investors that it has a great follow-up of its successful GLP-1 anti-obesité drugs.
“Novo was a hot stock in the past, but what we see now is that the media threw has fallen. At the same time, SAP benefits a lot from the entries of German actions,” said Emmanuel Cau, analyst at Barclays.
SAP last year replaced the Dutch semiconductor equipment manufacturer ASML As the largest technological company in Europe.
Based in the city of Walldorf in southwest Germany, SAP now constitutes a greater proportion of the German index than the country’s historic cars, which includes Volkswagen and Mercedes-Benz.
SAP’s weighting in the Dax has repeatedly violated a 15%ceiling, which prompted Deutsche Börse to introduce a new non -capped version of the index last month.
Founded by five former IBM employees in 1972, SAP has increased in recent years in the remoteness of its model to sell on -site software licenses to cloud service contracts, a more foreseeable and lucrative company.
Analysts expect SAP cloud revenues to increase 29% this year, while overall income should increase by 13% to 38.5 billion euros.
Analysts also highlighted the potential of a new product that SAP unveiled last month, allowing customers to connect their data with third -party data and analyze it through AI agents.
Although the company’s shares are down approximately 10% compared to the summit of all time of last month, its competitors for the position of the most precious business have dropped more strongly.
Novo Nordisk, which has competed with the French luxury group LVMH for first place in Europe in the past two years, has published this month a second series of Worse than planned Results of the trial for Cagrisema, a potential successor treatment in Ozempic and Wegovy.
Novo’s uncertain products pipeline has complicated a success that saw the sales of its existing Obesity drugs over More than 50% last year.
