Anaplan Inc (PLAN) Receives Average Recommendation of “Hold” from Brokerages

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Shares of Anaplan Inc (NYSE:PLAN) have received an average rating of “Hold” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $27.56.

Several brokerages have recently weighed in on PLAN. Barclays downgraded shares of Anaplan from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $30.00 to $32.00 in a research note on Friday, February 8th. Zacks Investment Research downgraded shares of Anaplan from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. Evercore ISI began coverage on shares of Anaplan in a research note on Tuesday, November 6th. They set an “inline” rating and a $26.00 price objective on the stock. Canaccord Genuity began coverage on shares of Anaplan in a research note on Tuesday, November 6th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, Morgan Stanley began coverage on shares of Anaplan in a research note on Tuesday, November 6th. They set an “equal weight” rating and a $23.00 price objective on the stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Salesforce Com Inc. bought a new position in Anaplan during the 4th quarter valued at $79,105,000. HMI Capital LLC bought a new position in Anaplan during the 4th quarter valued at $35,261,000. BlackRock Inc. bought a new position in Anaplan during the 4th quarter valued at $30,057,000. Telemark Asset Management LLC bought a new position in Anaplan during the 4th quarter valued at $10,616,000. Finally, Frontier Capital Management Co. LLC bought a new position in Anaplan during the 4th quarter valued at $8,313,000. Hedge funds and other institutional investors own 0.30% of the company’s stock.

Shares of PLAN stock opened at $32.47 on Thursday. Anaplan has a twelve month low of $20.37 and a twelve month high of $33.33.

Anaplan (NYSE:PLAN) last announced its earnings results on Wednesday, November 28th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. The firm had revenue of $62.00 million during the quarter, compared to analysts’ expectations of $57.47 million. The business’s revenue was up 40.3% compared to the same quarter last year. Sell-side analysts forecast that Anaplan will post -1.14 EPS for the current fiscal year.

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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