Anaplan Inc (PLAN) Given Average Recommendation of “Hold” by Brokerages
Anaplan Inc (NYSE:PLAN) has received an average rating of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $33.44.
A number of analysts have recently issued reports on the company. Monness Crespi & Hardt assumed coverage on Anaplan in a research note on Monday, March 25th. They issued a “buy” rating and a $50.00 price target on the stock. Zacks Investment Research lowered Anaplan from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. KeyCorp reissued a “hold” rating on shares of Anaplan in a research note on Tuesday, February 26th. Canaccord Genuity reissued a “buy” rating and set a $40.00 price objective on shares of Anaplan in a research note on Tuesday, February 26th. Finally, SunTrust Banks boosted their price objective on Anaplan to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, February 26th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLAN. Neuburgh Advisers LLC purchased a new stake in Anaplan in the fourth quarter valued at $27,000. Advisor Group Inc. purchased a new stake in Anaplan in the fourth quarter valued at $41,000. Flinton Capital Management LLC purchased a new stake in Anaplan in the fourth quarter valued at $42,000. Legal & General Group Plc purchased a new stake in Anaplan in the fourth quarter valued at $74,000. Finally, Citigroup Inc. purchased a new stake in Anaplan in the fourth quarter valued at $126,000. 35.27% of the stock is currently owned by institutional investors.
Anaplan (NYSE:PLAN) last issued its quarterly earnings results on Monday, February 25th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.05. The firm had revenue of $69.30 million during the quarter, compared to analyst estimates of $63.71 million. The firm’s revenue was up 49.7% compared to the same quarter last year. On average, analysts forecast that Anaplan will post -1.29 earnings per share for the current year.
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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