Zacks Investment Research upgraded shares of Anaplan (NYSE:PLAN) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. They currently have $67.00 price target on the stock.
According to Zacks, “Anaplan, Inc. develops and publishes a cloud platform for business applications. The Company offers a platform which allow business users to build and maintain strategic, operational and business planning and performance management. Anaplan, Inc. is based in CA, United States. “
PLAN has been the subject of several other research reports. ValuEngine upgraded shares of Anaplan from a sell rating to a hold rating in a research report on Monday, February 10th. SunTrust Banks boosted their price objective on shares of Anaplan to $68.00 and gave the stock a buy rating in a research report on Friday, November 22nd. Wells Fargo & Co initiated coverage on shares of Anaplan in a research report on Monday, January 27th. They issued an overweight rating and a $73.00 price objective for the company. Barclays restated a hold rating and issued a $55.00 price objective on shares of Anaplan in a research report on Sunday, November 3rd. Finally, Mizuho restated a buy rating and issued a $70.00 price objective (up previously from $60.00) on shares of Anaplan in a research report on Thursday, November 21st. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $63.00.
NYSE:PLAN opened at $62.85 on Tuesday. Anaplan has a 1 year low of $31.80 and a 1 year high of $63.71. The firm has a 50 day moving average of $57.11 and a 200-day moving average of $52.83. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $8.15 billion, a P/E ratio of -55.13 and a beta of 0.93.
Anaplan (NYSE:PLAN) last posted its quarterly earnings data on Thursday, November 21st. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.04. Anaplan had a negative net margin of 45.48% and a negative return on equity of 46.75%. The firm had revenue of $89.41 million during the quarter, compared to analysts’ expectations of $86.47 million. During the same quarter in the previous year, the company posted ($0.18) EPS. Anaplan’s revenue was up 44.2% on a year-over-year basis. As a group, analysts forecast that Anaplan will post -1.08 EPS for the current fiscal year.
In other Anaplan news, CFO David H. Morton, Jr. sold 33,430 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $51.00, for a total transaction of $1,704,930.00. Following the completion of the sale, the chief financial officer now owns 69,018 shares in the company, valued at approximately $3,519,918. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank Calderoni sold 50,025 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $55.00, for a total transaction of $2,751,375.00. Following the sale, the chief executive officer now owns 1,136,118 shares of the company’s stock, valued at approximately $62,486,490. The disclosure for this sale can be found here. Insiders have sold a total of 211,747 shares of company stock valued at $11,545,251 in the last quarter. Corporate insiders own 37.20% of the company’s stock.
Several institutional investors have recently modified their holdings of PLAN. Aigen Investment Management LP acquired a new position in shares of Anaplan in the 4th quarter valued at $1,558,000. Alpine Global Management LLC acquired a new position in shares of Anaplan in the 4th quarter valued at $355,000. Squarepoint Ops LLC acquired a new position in shares of Anaplan in the 3rd quarter valued at $907,000. Metropolitan Life Insurance Co NY grew its holdings in shares of Anaplan by 6.7% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 6,171 shares of the company’s stock valued at $290,000 after buying an additional 388 shares during the period. Finally, Voya Investment Management LLC grew its holdings in shares of Anaplan by 1.4% in the 3rd quarter. Voya Investment Management LLC now owns 23,031 shares of the company’s stock valued at $1,082,000 after buying an additional 322 shares during the period. Institutional investors own 70.47% of the company’s stock.
Anaplan Company Profile
Anaplan, Inc engages in the provision of cloud-based connected planning platform that helps connect organizations and people to make better and faster decisions. It also offers professional services, including consulting, implementation, and training. The company was founded by Michael Gould, John David Guy Haddleton, and Sue Haddleton in 2006 and is headquartered in San Francisco, CA.
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