Shape memory alloys have been used in developing self-centering steel moment connections. This article presents a numerical study aiming at evaluating the cyclic response sensitivity and limit states of extended endplate steel connections with shape memory alloy bolts. Three-dimensional finite element models are developed and validated against a recent experimental study. Using a statistical design-of-experiment method, the effects of 21 design factors and their interactions on the cyclic response of shape memory alloy connections are assessed. The sensitivity of six response parameters is studied. In addition, four limit states for shape memory alloy connections are discussed, including beam local buckling, bolt excessive axial strain, endplate yielding, and column flange yielding. Results show that endplate thickness, shape memory alloy bolt diameter, beam web slenderness ratio, and shape memory alloy maximum transformation strain are the most influential factors. Furthermore, endplate yielding is found to be the governing limit state in almost 80% of the analyzed connections, whereas shape memory alloy bolt excessive strain and column flange yielding are observed in less than 20% and 5% of the connections, respectively. Beam local buckling is not governing in the analyzed shape memory alloy connections designed as per the AISC 358-16 and AISC 341-16 seismic design requirements for extended endplate connections and highly ductile members.