SAP SE claimed the title of Europe’s most valuable public company, replacing Danish weight-loss drug maker Novo Nordisk A/S.
Shares of SAP, which have been powered by growing investor optimism over its cloud-based software, rose 1,6% on Monday, valuing the German company at about €314 billion ($340 billion). That tipped it past Novo Nordisk, whose shares have declined 16% this year as trials of the firm’s next-generation weight-loss shot, CagriSema, have disappointed.
SAP shares have risen 42% in the past year, fueled by customers’ accelerating pivot from traditional on-site servers to IT infrastructure on the cloud. That process has allowed the company to sell more lucrative products bundled with artificial intelligence features, boosting revenue growth.
With this kind of budget there has to be a better way to organize data and permissions. They have infinite money and a lot of smart people at their company… And I am starring at poor quality icons and the most confusing structure I can think of.