Anaplan (PLAN) Earns Buy Rating from Analysts at Canaccord Genuity

Canaccord Genuity began coverage on shares of Anaplan (NYSE:PLAN) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $27.00 price target on the stock.

Other research analysts also recently issued reports about the company. SunTrust Banks initiated coverage on Anaplan in a report on Tuesday. They issued a buy rating and a $28.00 price target for the company. Needham & Company LLC initiated coverage on Anaplan in a report on Tuesday. They issued a buy rating and a $30.00 price target for the company. Morgan Stanley initiated coverage on Anaplan in a report on Tuesday. They issued an equal weight rating and a $23.00 price target for the company. Goldman Sachs Group assumed coverage on Anaplan in a report on Tuesday. They issued a neutral rating and a $25.00 price target for the company. Finally, JMP Securities assumed coverage on Anaplan in a research note on Tuesday. They set an outperform rating and a $29.00 target price for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $27.33.

NYSE:PLAN traded down $1.53 during trading hours on Tuesday, reaching $24.22. The company had a trading volume of 354,048 shares, compared to its average volume of 1,415,840. Anaplan has a 1-year low of $20.37 and a 1-year high of $27.30.

In other Anaplan news, insider David Ying Xian Chung bought 3,600 shares of Anaplan stock in a transaction dated Tuesday, October 16th. The stock was acquired at an average cost of $17.00 per share, with a total value of $61,200.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sandesh Kaveripatnam bought 1,104,999 shares of Anaplan stock in a transaction dated Tuesday, October 16th. The shares were acquired at an average cost of $17.00 per share, with a total value of $18,784,983.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,118,599 shares of company stock valued at $19,088,283.

Anaplan Company Profile

Anaplan, Inc provides a cloud-based connected planning platform Its platform unites traditionally distinct or disconnected database structures, including relational, columnar, and online analytical processing with in-memory data storage and calculation that is used in various lines of business, such as finance, sales, supply chain, marketing, human resources, and operations.

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Analyst Recommendations for Anaplan (NYSE:PLAN)

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