Anaplan (NYSE:PLAN) PT Lowered to $42.00 at Monness Crespi & Hardt

Anaplan (NYSE:PLAN) had its target price lowered by Monness Crespi & Hardt from $74.00 to $42.00 in a report issued on Monday, Briefing.com Automated Import reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently commented on the company. Royal Bank of Canada reduced their price target on Anaplan from $75.00 to $51.00 and set an outperform rating for the company in a report on Friday, February 28th. Morgan Stanley reduced their price target on Anaplan from $65.00 to $53.00 and set an equal weight rating for the company in a report on Friday, February 28th. Evercore ISI reaffirmed a buy rating and set a $65.00 target price on shares of Anaplan in a report on Sunday, November 24th. Rosenblatt Securities reaffirmed a buy rating and set a $71.00 target price on shares of Anaplan in a report on Monday, February 24th. Finally, ValuEngine raised Anaplan from a hold rating to a buy rating in a report on Tuesday, March 17th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $57.74.

PLAN traded up $1.72 on Monday, reaching $35.72. The company’s stock had a trading volume of 1,541,529 shares, compared to its average volume of 3,040,785. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of -31.33 and a beta of 1.42. Anaplan has a 1 year low of $26.10 and a 1 year high of $63.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.60 and a quick ratio of 1.60. The business’s 50 day moving average is $47.62 and its 200 day moving average is $50.47.

Anaplan (NYSE:PLAN) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The firm had revenue of $98.20 million during the quarter, compared to the consensus estimate of $97.17 million. Anaplan had a negative return on equity of 47.47% and a negative net margin of 42.88%. Anaplan’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.13) earnings per share. As a group, research analysts forecast that Anaplan will post -1.18 earnings per share for the current fiscal year.

In other news, CEO Frank Calderoni sold 45,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $56.96, for a total transaction of $2,563,200.00. Following the sale, the chief executive officer now directly owns 1,142,810 shares in the company, valued at approximately $65,094,457.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rob Ward sold 126,309 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $44.89, for a total value of $5,670,011.01. Following the sale, the director now owns 55,967 shares in the company, valued at $2,512,358.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 372,845 shares of company stock worth $16,747,400. 37.20% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in PLAN. First Trust Advisors LP raised its position in shares of Anaplan by 0.4% during 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 period. Tower Research Capital LLC TRC acquired a new stake in shares of Anaplan during the 3rd quarter worth approximately $40,000. Colony Group LLC acquired a new stake in shares of Anaplan during the 3rd quarter worth approximately $220,000. Voya Investment Management LLC raised its position in shares of Anaplan by 1.4% during the 3rd quarter. Voya Investment Management LLC now owns 23,031 shares of the company’s stock worth $1,082,000 after purchasing an additional 322 shares during the period. Finally, State Street Corp raised its position in shares of Anaplan by 9.7% during the 3rd quarter. State Street Corp now owns 991,784 shares of the company’s stock worth $46,614,000 after purchasing an additional 87,602 shares during the period. Institutional investors and hedge funds own 79.65% of the company’s stock.

About Anaplan

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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