Anaplan (NYSE:PLAN) Price Target Lowered to $70.00 at Jefferies Financial Group

Anaplan (NYSE:PLAN) had its target price reduced by Jefferies Financial Group from $85.00 to $70.00 in a research note released on Wednesday morning, The Fly reports. They currently have a buy rating on the stock.

A number of other research analysts have also weighed in on PLAN. JMP Securities lifted their price target on shares of Anaplan from $82.00 to $87.00 and gave the company a market outperform rating in a research note on Wednesday, September 1st. Canaccord Genuity reiterated a buy rating and issued a $80.00 price objective on shares of Anaplan in a report on Wednesday, September 1st. Piper Sandler lifted their price objective on shares of Anaplan from $67.00 to $77.00 and gave the company an overweight rating in a report on Wednesday, September 1st. Zacks Investment Research upgraded shares of Anaplan from a sell rating to a hold rating in a report on Wednesday, November 3rd. Finally, Berenberg Bank lifted their price objective on shares of Anaplan from $82.00 to $92.00 and gave the company a buy rating in a report on Wednesday, September 1st. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $69.90.

Shares of PLAN opened at $44.22 on Wednesday. Anaplan has a twelve month low of $40.13 and a twelve month high of $86.17. The firm’s 50 day moving average price is $62.24 and its two-hundred day moving average price is $58.50. The firm has a market cap of $6.46 billion, a P/E ratio of -35.10 and a beta of 1.88.

Anaplan (NYSE:PLAN) last announced its quarterly earnings results on Tuesday, November 23rd. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.06. Anaplan had a negative net margin of 35.47% and a negative return on equity of 64.29%. The firm had revenue of $155.30 million for the quarter, compared to analyst estimates of $146.31 million. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. The business’s revenue was up 35.2% on a year-over-year basis. As a group, research analysts forecast that Anaplan will post -1.33 EPS for the current year.

In related news, CRO William Schuh sold 5,588 shares of the company’s stock in a transaction dated Tuesday, September 14th. The shares were sold at an average price of $64.94, for a total transaction of $362,884.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Gagan Dhingra sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 496,094 shares of company stock valued at $32,646,403. 5.20% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Danda Trouve Investment Management Inc. bought a new position in shares of Anaplan in the third quarter worth about $25,000. KB Financial Partners LLC bought a new position in shares of Anaplan in the first quarter worth about $28,000. Captrust Financial Advisors bought a new position in shares of Anaplan in the first quarter worth about $32,000. Lazard Asset Management LLC bought a new position in shares of Anaplan in the second quarter worth about $41,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of Anaplan by 157.5% in the third quarter. Newbridge Financial Services Group Inc. now owns 690 shares of the company’s stock worth $42,000 after acquiring an additional 422 shares during the last quarter. 90.08% of the stock is owned by hedge funds and other institutional investors.

Anaplan Company Profile

Anaplan, Inc engages in the provision of cloud-based connected planning platform that connects organizations and people for decision making. 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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