Anaplan (NYSE:PLAN) PT Lowered to $58.00 at The Goldman Sachs Group

Anaplan (NYSE:PLAN) had its target price reduced by The Goldman Sachs Group from $67.00 to $58.00 in a report issued on Wednesday morning, The Fly reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on the stock. Morgan Stanley cut their price objective on shares of Anaplan from $80.00 to $73.00 and set an overweight rating on the stock in a report on Wednesday. Barclays cut their price objective on shares of Anaplan from $84.00 to $68.00 and set an equal weight rating on the stock in a report on Wednesday. Truist Securities lifted their price objective on shares of Anaplan from $75.00 to $80.00 and gave the company a buy rating in a report on Wednesday, September 1st. Truist lifted their price objective on shares of Anaplan from $75.00 to $80.00 and gave the company a buy rating in a report on Wednesday, September 1st. Finally, Needham & Company LLC reissued a buy rating and set a $95.00 price objective on shares of Anaplan in a report on Wednesday, September 1st. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Buy and a consensus price target of $69.90.

Anaplan stock opened at $44.22 on Wednesday. The company has a 50 day moving average price of $62.24 and a 200-day moving average price of $58.50. Anaplan has a fifty-two week low of $40.13 and a fifty-two week high of $86.17. The company has a market capitalization of $6.46 billion, a PE ratio of -35.10 and a beta of 1.88.

Anaplan (NYSE:PLAN) last posted its quarterly earnings results on Tuesday, November 23rd. The company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $146.31 million. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. The company’s revenue was up 35.2% on a year-over-year basis. As a group, research analysts expect that Anaplan will post -1.33 earnings per share for the current year.

In related news, CAO Gagan Dhingra sold 870 shares of the business’s stock in a transaction on Tuesday, September 14th. The shares were sold at an average price of $64.94, for a total transaction of $56,497.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sandesh Kaveripatnam sold 225,000 shares of the business’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $66.77, for a total transaction of $15,023,250.00. The disclosure for this sale can be found here. Insiders have sold 496,094 shares of company stock worth $32,646,403 over the last three months. Corporate insiders own 5.20% of the company’s stock.

Several institutional investors have recently modified their holdings of PLAN. FMR LLC raised its position in shares of Anaplan by 92.3% in the second quarter. FMR LLC now owns 11,085,764 shares of the company’s stock worth $590,871,000 after acquiring an additional 5,319,915 shares during the period. Palestra Capital Management LLC acquired a new position in shares of Anaplan in the third quarter worth about $164,099,000. Champlain Investment Partners LLC acquired a new position in shares of Anaplan in the second quarter worth about $131,840,000. Echo Street Capital Management LLC raised its position in shares of Anaplan by 23,211.1% in the second quarter. Echo Street Capital Management LLC now owns 2,000,794 shares of the company’s stock worth $106,642,000 after acquiring an additional 1,992,211 shares during the period. Finally, Natixis acquired a new position in shares of Anaplan in the second quarter worth about $103,199,000. Institutional investors and hedge funds own 90.08% of the company’s stock.

About Anaplan

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.

Featured Story: Secondary Public Offerings

The Fly logo

Analyst Recommendations for Anaplan (NYSE:PLAN)

Receive News & Ratings for Anaplan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anaplan and related companies with MarketBeat.com's FREE daily email newsletter.