Morgan Stanley Begins Coverage on Anaplan (PLAN)

Morgan Stanley started coverage on shares of Anaplan (NYSE:PLAN) in a research report released on Tuesday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $23.00 price target on the stock.

Several other equities research analysts have also recently weighed in on PLAN. KeyCorp started coverage on shares of Anaplan in a research report on Tuesday. They set a sector weight rating for the company. Needham & Company LLC started coverage on shares of Anaplan in a research report on Tuesday. They set a buy rating and a $30.00 price objective for the company. Goldman Sachs Group started coverage on shares of Anaplan in a research report on Tuesday. They set a neutral rating and a $25.00 price objective for the company. Piper Jaffray Companies assumed coverage on shares of Anaplan in a research report on Tuesday. They set an overweight rating and a $28.00 price objective for the company. Finally, JMP Securities assumed coverage on shares of Anaplan in a report on Tuesday. They issued an outperform rating and a $29.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $27.33.

Shares of PLAN traded down $1.53 during trading hours on Tuesday, hitting $24.22. 354,048 shares of the stock were exchanged, compared to its average volume of 1,415,840. Anaplan has a fifty-two week low of $20.37 and a fifty-two week high of $27.30.

In related news, Director Robert E. Beauchamp purchased 10,000 shares of Anaplan stock in a transaction on Friday, October 12th. The stock was acquired at an average cost of $24.21 per share, for a total transaction of $242,100.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sandesh Kaveripatnam purchased 1,104,999 shares of Anaplan stock in a transaction on Tuesday, October 16th. The stock was bought at an average price of $17.00 per share, with a total value of $18,784,983.00. The disclosure for this purchase can be found here. Insiders acquired 1,118,599 shares of company stock valued at $19,088,283 over the last 90 days.

Anaplan Company Profile

Anaplan, Inc provides a cloud-based connected planning platform Its platform unites traditionally distinct or disconnected database structures, including relational, columnar, and online analytical processing with in-memory data storage and calculation that is used in various lines of business, such as finance, sales, supply chain, marketing, human resources, and operations.

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Analyst Recommendations for Anaplan (NYSE:PLAN)

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