Royal Bank of Canada started coverage on shares of Anaplan (NYSE:PLAN) in a research report released on Wednesday morning, The Fly reports. The firm issued an outperform rating and a $70.00 price target on the stock.

PLAN has been the subject of a number of other reports. Macquarie started coverage on shares of Anaplan in a research note on Monday, July 15th. They set an outperform rating and a $65.00 price objective for the company. Compass Point started coverage on shares of Anaplan in a research note on Tuesday, August 13th. They set a neutral rating and a $58.00 price objective for the company. SunTrust Banks upped their price objective on shares of Anaplan to $52.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Goldman Sachs Group lowered shares of Anaplan from a buy rating to a neutral rating and set a $53.20 price objective for the company. in a research note on Monday, July 1st. Finally, Deutsche Bank started coverage on shares of Anaplan in a research note on Wednesday, July 24th. They set a buy rating and a $70.00 price objective for the company. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Anaplan currently has a consensus rating of Buy and a consensus target price of $55.94.

NYSE:PLAN opened at $54.33 on Wednesday. Anaplan has a twelve month low of $20.37 and a twelve month high of $60.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.94 and a current ratio of 1.94. The company has a 50-day moving average of $56.94 and a 200-day moving average of $44.91.

Anaplan (NYSE:PLAN) last posted its quarterly earnings data on Tuesday, August 27th. The company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.01). Anaplan had a negative net margin of 50.87% and a negative return on equity of 45.97%. The business had revenue of $84.50 million for the quarter, compared to the consensus estimate of $78.25 million. The business’s revenue for the quarter was up 46.2% on a year-over-year basis. Analysts forecast that Anaplan will post -1.15 earnings per share for the current year.

In other news, Director Sandesh Kaveripatnam sold 495,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $49.52, for a total value of $24,512,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Beauchamp purchased 37,000 shares of Anaplan stock in a transaction dated Monday, June 3rd. The stock was bought at an average cost of $41.75 per share, with a total value of $1,544,750.00. The disclosure for this purchase can be found here. Insiders sold 1,243,955 shares of company stock valued at $62,701,176 over the last three months. 37.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PLAN. Vanguard Group Inc. raised its position in Anaplan by 349.7% during the second quarter. Vanguard Group Inc. now owns 7,370,796 shares of the company’s stock valued at $372,004,000 after acquiring an additional 5,731,817 shares in the last quarter. Coatue Management LLC raised its position in Anaplan by 33.7% during the second quarter. Coatue Management LLC now owns 12,110,110 shares of the company’s stock valued at $611,198,000 after acquiring an additional 3,053,613 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Anaplan during the second quarter valued at approximately $118,659,000. Invesco Ltd. raised its position in Anaplan by 2,460.9% during the second quarter. Invesco Ltd. now owns 2,053,941 shares of the company’s stock valued at $103,662,000 after acquiring an additional 1,973,737 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in Anaplan during the second quarter valued at approximately $88,708,000. 39.86% of the stock is owned by institutional investors and hedge funds.

Anaplan Company Profile

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.

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Analyst Recommendations for Anaplan (NYSE:PLAN)

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