Brokerages Set Anaplan Inc (NYSE:PLAN) Price Target at $47.02

Shares of Anaplan Inc (NYSE:PLAN) have been given an average rating of “Buy” by the fifteen brokerages that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $47.02.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Anaplan from a “buy” rating to a “hold” rating in a research report on Wednesday. Deutsche Bank assumed coverage on shares of Anaplan in a research report on Wednesday, July 24th. They set a “buy” rating and a $70.00 target price for the company. Goldman Sachs Group cut shares of Anaplan from a “buy” rating to a “neutral” rating and set a $53.20 target price for the company. in a research report on Monday, July 1st. Needham & Company LLC increased their target price on shares of Anaplan to $54.00 and gave the stock an “average” rating in a research report on Wednesday, May 29th. Finally, Monness Crespi & Hardt increased their target price on shares of Anaplan from $50.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th.

In other Anaplan news, Chairman Frank Calderoni sold 49,703 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $56.03, for a total transaction of $2,784,859.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David Ying Xian Chung sold 957 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $57.49, for a total transaction of $55,017.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,387,603 shares of company stock worth $68,590,442. Insiders own 37.20% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Rhumbline Advisers grew its holdings in Anaplan by 1.3% during the 1st quarter. Rhumbline Advisers now owns 24,549 shares of the company’s stock worth $966,000 after acquiring an additional 324 shares during the last quarter. First Trust Advisors LP grew its holdings in Anaplan by 0.4% during the 1st quarter. First Trust Advisors LP now owns 104,734 shares of the company’s stock worth $4,122,000 after acquiring an additional 387 shares during the last quarter. Parallel Advisors LLC bought a new stake in Anaplan during the 2nd quarter worth about $35,000. Advisory Services Network LLC bought a new stake in Anaplan during the 1st quarter worth about $39,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Anaplan during the 2nd quarter worth about $58,000. 35.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PLAN stock traded down $1.29 during mid-day trading on Thursday, reaching $56.35. The company’s stock had a trading volume of 1,056,976 shares, compared to its average volume of 1,216,502. Anaplan has a 1-year low of $20.37 and a 1-year high of $60.36. The company has a market capitalization of $7.44 billion and a P/E ratio of -32.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.94 and a current ratio of 1.94. The firm’s 50-day moving average is $54.90.

Anaplan (NYSE:PLAN) last announced its quarterly earnings data on Tuesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.18. The business had revenue of $75.80 million during the quarter, compared to analyst estimates of $70.66 million. The business’s revenue for the quarter was up 46.9% on a year-over-year basis. On average, analysts forecast that Anaplan will post -1.15 EPS for the current fiscal year.

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.

See Also: Why do analysts give a neutral rating?

Analyst Recommendations for Anaplan (NYSE:PLAN)

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