German software developer SAP SA UNSEIDED Danish drugstore manufacturer for weight loss new Nordisk A/S as the most pronounced public company in Europe.
SAP shares, which launched a growing optimism of investors compared to their cloud-based software, increased by as much as 2.3%on Monday, estimating it at about EUR 317 billion ($ 344 billion). This overturned him a new Nordisk, whose shares reduced 16% this year due to disappointing experiments in his next generation of Cagrisem.
SAP shares increased 42% last year, triggered by an accelerated turn from traditional servers on the spot to IT infrastructure on the cloud. This procedure enabled a company to sell more lucrative products in a package of artificial intelligence features, increasing revenue growth.
Analysts on average estimate SAP sales will increase by 12% this year. If it is achieved, this would mark the fastest annual company growth rate in the last decade. Operational profit is expected to accelerate even more, after restructuring program Announced in January 2024.
SAP is the biggest contribution to the 30% profit in the Stoxx 600 reference index since the end of 2022, according to data collected by Bloomberg. The shares increased more than 150% during this period and were responsible for about 8% of the index progress.
SAP’s permanent journey is contrasting with other European companies with blue chips that have faced challenges. Asml Holding NV fought withweak commandsFor some of their key clients, as well as restriction on the restriction due to the export of chips in the cinema.
Novo Nordisk loses first place in Europe after they have been roughly halved since it reached a record maximum in June. The shares received another blow on Monday after Intron Health analysts reduced their recommendation for sale from buy.
LVMH brieflyHeld the titleThe largest European company in January, only because of its shares that returned as part of a broader diamond in luxury parts.
This story is originally shown on Fortune.com
