Anaplan (NYSE:PLAN) Earns Buy Rating from Analysts at Mizuho

Stock analysts at Mizuho began coverage on shares of Anaplan (NYSE:PLAN) in a note issued to investors on Thursday, The Fly reports. The brokerage set a “buy” rating and a $60.00 price target on the stock. Mizuho’s price target indicates a potential upside of 20.68% from the company’s current price.

A number of other equities research analysts also recently weighed in on PLAN. SunTrust Banks restated a “buy” rating and issued a $65.00 target price (up from $52.00) on shares of Anaplan in a research report on Wednesday, August 28th. Barclays upped their target price on Anaplan from $43.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Compass Point started coverage on Anaplan in a report on Tuesday, August 13th. They issued a “neutral” rating and a $58.00 price target on the stock. Deutsche Bank started coverage on Anaplan in a report on Wednesday, July 24th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Zacks Investment Research raised Anaplan from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $57.44.

PLAN opened at $49.72 on Thursday. The company has a market capitalization of $6.28 billion and a price-to-earnings ratio of -28.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.87 and a quick ratio of 1.87. Anaplan has a 1-year low of $20.37 and a 1-year high of $60.36. The business has a 50 day moving average price of $50.92 and a two-hundred day moving average price of $47.55.

Anaplan (NYSE:PLAN) last released its earnings results on Tuesday, August 27th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.01). The firm had revenue of $84.50 million during the quarter, compared to analyst estimates of $78.25 million. Anaplan had a negative return on equity of 46.52% and a negative net margin of 50.87%. The business’s revenue for the quarter was up 46.2% compared to the same quarter last year. Equities analysts expect that Anaplan will post -1.12 EPS for the current fiscal year.

In other Anaplan news, CEO Frank Calderoni sold 54,779 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $52.35, for a total transaction of $2,867,680.65. Also, CFO David H. Morton, Jr. sold 115,076 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.30, for a total transaction of $5,558,170.80. Insiders sold 937,393 shares of company stock worth $49,055,531 in the last ninety days. 37.20% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in PLAN. Raymond James & Associates raised its stake in Anaplan by 32.5% during the 1st quarter. Raymond James & Associates now owns 53,857 shares of the company’s stock valued at $2,120,000 after purchasing an additional 13,216 shares during the period. New York State Common Retirement Fund acquired a new stake in Anaplan during the 1st quarter valued at $1,228,000. First Trust Advisors LP raised its stake in Anaplan by 0.4% during the 1st quarter. First Trust Advisors LP now owns 104,734 shares of the company’s stock valued at $4,122,000 after purchasing an additional 387 shares during the period. Wells Fargo & Company MN raised its stake in Anaplan by 16.3% during the 1st quarter. Wells Fargo & Company MN now owns 728,209 shares of the company’s stock valued at $28,662,000 after purchasing an additional 101,832 shares during the period. Finally, Federated Investors Inc. PA raised its stake in Anaplan by 113.6% during the 1st quarter. Federated Investors Inc. PA now owns 234,960 shares of the company’s stock valued at $9,248,000 after purchasing an additional 124,960 shares during the period. 62.66% of the stock is currently owned by institutional investors.

About Anaplan

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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Analyst Recommendations for Anaplan (NYSE:PLAN)

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