Rosenblatt Securities Reaffirms “Buy” Rating for Anaplan (NYSE:PLAN)

Rosenblatt Securities reaffirmed their buy rating on shares of Anaplan (NYSE:PLAN) in a research report released on Monday morning, AnalystRatings.com reports. The brokerage currently has a $71.00 price target on the stock.

A number of other research analysts also recently commented on PLAN. Evercore ISI reiterated a buy rating and set a $65.00 price objective on shares of Anaplan in a research note on Sunday, November 24th. Zacks Investment Research upgraded shares of Anaplan from a hold rating to a buy rating and set a $70.00 price objective on the stock in a research note on Friday, February 21st. SunTrust Banks increased their price objective on shares of Anaplan to $68.00 and gave the company a buy rating in a research note on Friday, November 22nd. Wells Fargo & Co assumed coverage on shares of Anaplan in a research note on Monday, January 27th. They set an overweight rating and a $73.00 price objective on the stock. Finally, Barclays reiterated a hold rating and set a $55.00 price objective on shares of Anaplan in a research note on Sunday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Anaplan presently has an average rating of Buy and a consensus target price of $63.74.

PLAN opened at $58.09 on Monday. The company has a fifty day simple moving average of $58.87 and a 200 day simple moving average of $53.10. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of -50.96 and a beta of 0.93. Anaplan has a twelve month low of $33.59 and a twelve month high of $63.71. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.11.

In related news, CEO Frank Calderoni sold 48,249 shares of Anaplan stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $56.04, for a total value of $2,703,873.96. Following the sale, the chief executive officer now directly owns 1,244,372 shares in the company, valued at approximately $69,734,606.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David H. Morton, Jr. sold 33,430 shares of Anaplan stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $51.00, for a total transaction of $1,704,930.00. Following the completion of the sale, the chief financial officer now owns 69,018 shares in the company, valued at $3,519,918. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 161,722 shares of company stock worth $8,793,876. Insiders own 37.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. First Trust Advisors LP grew its stake in shares of Anaplan by 0.4% in the 1st quarter. First Trust Advisors LP now owns 104,734 shares of the company’s stock worth $4,122,000 after purchasing an additional 387 shares during the last quarter. Royal Bank of Canada increased its holdings in Anaplan by 18.9% in the 2nd quarter. Royal Bank of Canada now owns 1,768 shares of the company’s stock valued at $89,000 after buying an additional 281 shares during the period. Stephens Inc. AR bought a new stake in Anaplan in the 3rd quarter valued at $602,000. Strs Ohio bought a new stake in Anaplan in the 3rd quarter valued at $195,000. Finally, State of Michigan Retirement System bought a new stake in Anaplan in the 3rd quarter valued at $691,000. Hedge funds and other institutional investors own 78.21% of the company’s stock.

Anaplan Company Profile

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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