Anaplan (NYSE:PLAN) Posts Earnings Results, Beats Estimates By $0.06 EPS

Anaplan (NYSE:PLAN) issued its quarterly earnings data on Monday. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.06, MarketWatch Earnings reports. Anaplan had a negative return on equity of 64.29% and a negative net margin of 35.47%. The business had revenue of $155.30 million for the quarter, compared to the consensus estimate of $146.31 million. During the same period last year, the business earned ($0.24) EPS. The firm’s revenue was up 35.2% compared to the same quarter last year.

PLAN stock traded down $7.84 during trading on Thursday, hitting $44.22. The company had a trading volume of 19,865,061 shares, compared to its average volume of 2,115,816. The company has a fifty day moving average price of $62.24 and a two-hundred day moving average price of $58.50. The company has a market cap of $6.46 billion, a P/E ratio of -35.10 and a beta of 1.88. Anaplan has a fifty-two week low of $40.13 and a fifty-two week high of $86.17.

A number of brokerages recently weighed in on PLAN. Berenberg Bank raised their price objective on Anaplan from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 1st. Monness Crespi & Hardt raised their price objective on Anaplan from $70.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group dropped their price target on Anaplan from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday. Truist Securities dropped their price target on Anaplan from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Piper Sandler downgraded Anaplan from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $77.00 to $48.00 in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Anaplan has a consensus rating of “Buy” and a consensus price target of $69.90.

In related news, CEO Frank Calderoni sold 73,541 shares of the company’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $70.02, for a total value of $5,149,340.82. Following the completion of the sale, the chief executive officer now owns 1,337,921 shares in the company, valued at $93,681,228.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value 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 disclosure for this sale can be found here. In the last three months, insiders sold 496,094 shares of company stock worth $32,646,403. Insiders own 5.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG increased its holdings in Anaplan by 16,021.5% in the third quarter. UBS Group AG now owns 38,208 shares of the company’s stock valued at $2,326,000 after purchasing an additional 37,971 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Anaplan by 20.7% in the third quarter. LPL Financial LLC now owns 11,694 shares of the company’s stock worth $712,000 after acquiring an additional 2,007 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Anaplan by 36.0% in the third 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 in the last quarter. 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.

Further Reading: Cash Flow Analysis in Stock Selection

Earnings History for Anaplan (NYSE:PLAN)

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