KeyCorp started coverage on shares of Anaplan (NYSE:PLAN) in a report issued on Tuesday, Marketbeat.com reports. The firm issued a sector weight rating on the stock.
“We estimate revenue could triple to $765M in five years. We see multiple growth drivers over the next five years as the Company lands additional G2K customers, expands across geographies, use-cases, and departments at existing customers, with the potential for net dollar retention rate to remain above 120%. Our base-case forecast has revenue climbing to $765M in five years while the bull case could top $1.5B on a 44% CAGR. Initiating coverage at Sector Weight. We have a bullish view on growth potential for PLAN based on 1) increasing business volatility driving the need for modern planning software; 2) an impressive net dollar retention rate above 120%; 3) veteran leadership; and 4) a large TAM opportunity with expanding footprint at the G2K. That said, we are initiating at Sector Weight given shares have risen 41% above the IPO (vs.”,” KeyCorp’s analyst commented.
PLAN opened at $23.70 on Tuesday. Anaplan has a 1-year low of $20.37 and a 1-year high of $26.97.
In related news, Director Sandesh Kaveripatnam purchased 1,104,999 shares of Anaplan stock in a transaction dated Tuesday, October 16th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $18,784,983.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert E. Beauchamp purchased 10,000 shares of Anaplan stock in a transaction dated Friday, October 12th. The stock was bought at an average price of $24.21 per share, for a total transaction of $242,100.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,118,599 shares of company stock worth $19,088,283.
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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