Shares of SAP AG (SAP) are up $1.86,or 2.5%, at $77.19, after Citigroup‘s Walter Pritchard this morning raised his rating on the shares to Buy from Neutral, and raised his price target to €62.00 from €57 on the ordinary shares (SAP) traded on Europe’s Xetra exchange, writign that Street estimates have bottomed, in his view, and year-over-year comparisons should be easier this…See More

Business management software company SAP AG says net profit rose 23 percent in the third quarter as its cloud computing business grew rapidly and the company kept down costs by holding down hiring of new employees.The Germany-based company’s net profit rose to 762 million euros (US$1.04 billion). Revenues grew 2 percent to 4.05 billion euros.Cloud computing revenues more than tripled to 191 million euros from 63 million euros. In cloud computing, companies access software on SAP’s computers…See More