Anaplan Inc (PLAN) Receives Average Recommendation of “Buy” from Analysts
Shares of Anaplan Inc (NYSE:PLAN) have been given an average recommendation of “Buy” by the thirteen analysts that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $35.36.
PLAN has been the subject of a number of research reports. Monness Crespi & Hardt initiated coverage on shares of Anaplan in a research note on Monday, March 25th. They set a “buy” rating and a $50.00 target price for the company. Zacks Investment Research raised shares of Anaplan from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Tuesday, April 30th. Barclays 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 target price on shares of Anaplan in a research note on Tuesday, February 26th. Finally, SunTrust Banks boosted their target price on shares of Anaplan to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, February 26th.
PLAN opened at $37.11 on Friday. Anaplan has a fifty-two week low of $20.37 and a fifty-two week high of $41.76. The firm has a market capitalization of $4.88 billion and a price-to-earnings ratio of -21.58.
In related news, insider Frank Calderoni sold 48,366 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $37.79, for a total transaction of $1,827,751.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO David Ying Xian Chung sold 1,720 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $35.45, for a total transaction of $60,974.00. The disclosure for this sale can be found here. Insiders have sold 199,274 shares of company stock valued at $7,078,976 in the last three months.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Coatue Management LLC acquired a new position in Anaplan during the fourth quarter worth about $240,575,000. Meritech Capital Associates IV L.L.C. acquired a new position in Anaplan during the fourth quarter worth about $210,369,000. Salesforce Com Inc. acquired a new position in Anaplan during the fourth quarter worth about $79,105,000. Baillie Gifford & Co. acquired a new position in Anaplan during the fourth quarter worth about $49,673,000. Finally, HMI Capital LLC acquired a new position in Anaplan during the fourth quarter worth about $35,261,000. Hedge funds and other institutional investors own 35.23% of the company’s stock.
Anaplan, Inc engages in the provision of cloud-based connected planning platform that helps connect organizations and people to make better and faster decisions. 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.
Recommended Story: Net Income
Receive News & Ratings for Anaplan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anaplan and related companies with MarketBeat.com's FREE daily email newsletter.