Anaplan (NYSE:PLAN) had its price objective increased by Morgan Stanley from $45.00 to $49.00 in a research note published on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the stock.
A number of other research analysts have also recently weighed in on the stock. SunTrust Banks raised their price objective on shares of Anaplan to $52.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. JMP Securities lifted their target price on shares of Anaplan from $40.00 to $50.00 and gave the stock an outperform rating in a research note on Tuesday, May 28th. Goldman Sachs Group cut shares of Anaplan from a buy rating to a neutral rating and set a $53.20 target price for the company. in a research note on Monday, July 1st. Barclays lifted their target price on shares of Anaplan from $38.00 to $43.00 and gave the stock a neutral rating in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Anaplan from a buy rating to a hold rating in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $49.61.
Shares of PLAN opened at $58.03 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.94 and a quick ratio of 1.94. The firm has a 50 day simple moving average of $55.75 and a 200-day simple moving average of $43.30. Anaplan has a 1-year low of $20.37 and a 1-year high of $60.36. The stock has a market cap of $7.17 billion and a price-to-earnings ratio of -33.74.
Anaplan (NYSE:PLAN) last issued its quarterly earnings data on Tuesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.18. The business had revenue of $75.80 million for the quarter, compared to analysts’ expectations of $70.66 million. Anaplan’s revenue for the quarter was up 46.9% on a year-over-year basis. On average, equities analysts expect that Anaplan will post -1.15 earnings per share for the current fiscal year.
In other Anaplan news, insider David Ying Xian Chung sold 957 shares of Anaplan stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $55.50, for a total value of $53,113.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Frank Calderoni sold 48,366 shares of Anaplan stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $37.79, for a total transaction of $1,827,751.14. The disclosure for this sale can be found here. Insiders sold a total of 1,388,560 shares of company stock valued at $68,643,556 over the last ninety days. 37.20% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC acquired a new position in shares of Anaplan in the 2nd quarter valued at $35,000. Quantamental Technologies LLC acquired a new position in shares of Anaplan in the 2nd quarter valued at $43,000. Advisory Services Network LLC acquired a new position in shares of Anaplan in the 1st quarter valued at $39,000. Point72 Hong Kong Ltd acquired a new position in shares of Anaplan in the 2nd quarter valued at $54,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Anaplan in the 2nd quarter valued at $58,000. Institutional investors own 36.15% of the company’s stock.
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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