Barclays Trims Anaplan (NYSE:PLAN) Target Price to $58.00

Anaplan (NYSE:PLAN) had its price target cut by Barclays from $68.00 to $58.00 in a research report released on Wednesday, The Fly reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently issued reports on PLAN. Needham & Company LLC started coverage on Anaplan in a research report on Wednesday, November 24th. They set a buy rating and a $94.00 price target on the stock. Morgan Stanley downgraded Anaplan from an overweight rating to an equal weight rating and reduced their price target for the stock from $73.00 to $55.00 in a research report on Thursday, December 16th. Monness Crespi & Hardt boosted their price objective on shares of Anaplan from $70.00 to $101.00 and gave the company a buy rating in a report on Wednesday, November 24th. dropped their price objective on shares of Anaplan from $80.00 to $70.00 and set a buy rating on the stock in a report on Wednesday, November 24th. Finally, Jefferies Financial Group dropped their price objective on shares of Anaplan from $85.00 to $70.00 and set a buy rating on the stock in a report on Wednesday, November 24th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $68.40.

Shares of NYSE:PLAN opened at $46.71 on Wednesday. The firm has a 50 day moving average of $48.41 and a 200 day moving average of $56.35. Anaplan has a 52 week low of $39.92 and a 52 week high of $86.17.

Anaplan (NYSE:PLAN) last issued its quarterly earnings results on Tuesday, November 23rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The business had revenue of $155.30 million for the quarter, compared to the consensus estimate of $146.31 million. Anaplan had a negative return on equity of 66.57% and a negative net margin of 33.63%. The business’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.24) earnings per share. On average, sell-side analysts predict that Anaplan will post -1.35 EPS for the current fiscal year.

In other Anaplan news, CAO Gagan Dhingra sold 863 shares of the stock in a transaction dated Monday, December 13th. The shares were sold at an average price of $45.26, for a total value of $39,059.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank Calderoni sold 30,000 shares of the stock in a transaction dated Monday, January 10th. The shares were sold at an average price of $44.91, for a total transaction of $1,347,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,724 shares of company stock valued at $7,773,367. Insiders own 5.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Danda Trouve Investment Management Inc. acquired a new stake in Anaplan in the 3rd quarter valued at about $25,000. Lazard Asset Management LLC acquired a new stake in shares of Anaplan during the 2nd quarter worth approximately $41,000. Newbridge Financial Services Group Inc. increased its holdings 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 during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Anaplan by 2,036.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 705 shares of the company’s stock worth $43,000 after buying an additional 672 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in shares of Anaplan by 2,348.4% during the 3rd quarter. Arkadios Wealth Advisors now owns 759 shares of the company’s stock worth $46,000 after buying an additional 728 shares during the last quarter. Institutional investors own 91.27% of the company’s stock.

Anaplan Company Profile

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: Are sell-side analysts objective?

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