Anaplan (NYSE:PLAN) Given New $45.00 Price Target at Loop Capital

Anaplan (NYSE:PLAN) had its target price lowered by Loop Capital from $65.00 to $45.00 in a research report report published on Wednesday morning, The Fly reports. Loop Capital currently has a hold rating on the stock.

A number of other equities analysts have also commented on the stock. Needham & Company LLC restated a buy rating and issued a $95.00 price objective on shares of Anaplan in a research report on Wednesday, September 1st. Monness Crespi & Hardt raised their price objective on shares of Anaplan from $70.00 to $101.00 and gave the company a buy rating in a research report on Wednesday. Morgan Stanley cut their price objective on shares of Anaplan from $80.00 to $73.00 and set an overweight rating for the company in a research report on Wednesday. KeyCorp lowered their target price on shares of Anaplan from $80.00 to $60.00 and set an overweight rating on the stock in a research note on Wednesday. Finally, Truist Securities raised their target price on shares of Anaplan from $75.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, September 1st. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $69.90.

Shares of NYSE:PLAN opened at $44.22 on Wednesday. The firm has a market capitalization of $6.46 billion, a PE ratio of -35.10 and a beta of 1.88. Anaplan has a twelve month low of $40.13 and a twelve month high of $86.17. The company has a 50-day moving average price of $62.24 and a two-hundred day moving average price of $58.50.

Anaplan (NYSE:PLAN) last issued its earnings results on Tuesday, November 23rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The firm had revenue of $155.30 million during the quarter, compared to analyst estimates of $146.31 million. Anaplan had a negative net margin of 35.47% and a negative return on equity of 64.29%. The company’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.24) earnings per share. Sell-side analysts expect that Anaplan will post -1.33 EPS for the current year.

In other news, insider Ana G. Pinczuk sold 10,261 shares of the company’s stock in a transaction dated Tuesday, September 14th. The shares were sold at an average price of $64.94, for a total transaction of $666,349.34. Following the completion of the sale, the insider now owns 41,653 shares of the company’s stock, valued at approximately $2,704,945.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank Calderoni sold 45,000 shares of the company’s stock in a transaction dated Monday, October 11th. The shares were sold at an average price of $60.06, for a total transaction of $2,702,700.00. The disclosure for this sale can be found here. In the last three months, insiders sold 496,094 shares of company stock valued at $32,646,403. 5.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Danda Trouve Investment Management Inc. purchased a new stake in Anaplan during the 3rd quarter valued at $25,000. KB Financial Partners LLC bought a new position in shares of Anaplan during the 1st quarter worth $28,000. Captrust Financial Advisors bought a new position in shares of Anaplan during the 1st quarter worth $32,000. Lazard Asset Management LLC bought a new position in shares of Anaplan during the 2nd quarter worth $41,000. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Anaplan by 157.5% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 690 shares of the company’s stock worth $42,000 after buying an additional 422 shares in the last quarter. 90.08% of the stock is currently owned by institutional investors and hedge funds.

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.

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