Anaplan (NYSE:PLAN) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Anaplan (NYSE:PLAN) released its earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06, MarketWatch Earnings reports. The business had revenue of $155.30 million for the quarter, compared to analyst estimates of $146.31 million. Anaplan had a negative return on equity of 64.29% and a negative net margin of 35.47%. Anaplan’s revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.24) earnings per share. Anaplan updated its Q4 2022 guidance to EPS and its FY 2022 guidance to EPS.

NYSE PLAN traded down $1.94 on Tuesday, hitting $52.06. 3,243,212 shares of the company’s stock were exchanged, compared to its average volume of 2,036,707. The stock has a 50-day moving average of $62.66 and a 200-day moving average of $58.60. Anaplan has a 52 week low of $46.00 and a 52 week high of $86.17. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of -41.32 and a beta of 1.88.

In other news, CAO Gagan Dhingra sold 2,000 shares of the stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $70.00, for a total value of $140,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank Calderoni sold 45,000 shares of the stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $60.82, for a total value of $2,736,900.00. The disclosure for this sale can be found here. Insiders have sold 496,094 shares of company stock valued at $32,646,403 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its holdings in Anaplan by 36.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,745 shares of the company’s stock worth $532,000 after acquiring an additional 2,313 shares during the period. UBS Group AG raised its holdings in shares of Anaplan by 16,021.5% in the 3rd quarter. UBS Group AG now owns 38,208 shares of the company’s stock worth $2,326,000 after purchasing an additional 37,971 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of Anaplan by 20.7% in the 3rd quarter. LPL Financial LLC now owns 11,694 shares of the company’s stock worth $712,000 after purchasing an additional 2,007 shares during the period. Institutional investors and hedge funds own 90.08% of the company’s stock.

A number of equities analysts have weighed in on the company. Loop Capital boosted their price target on Anaplan from $58.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, September 2nd. Jefferies Financial Group boosted their price target on Anaplan from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, September 1st. KeyCorp boosted their price target on Anaplan from $60.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, September 2nd. Mizuho boosted their price target on Anaplan from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, September 1st. Finally, Barclays boosted their price target on Anaplan from $82.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, September 17th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $79.13.

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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Earnings History for Anaplan (NYSE:PLAN)

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