Monness Crespi & Hardt began coverage on shares of Anaplan (NYSE:PLAN) in a research note issued to investors on Monday morning, Marketbeat reports. The firm issued a buy rating and a $50.00 target price on the stock.

Several other analysts also recently issued reports on PLAN. Zacks Investment Research downgraded Anaplan from a hold rating to a sell rating in a research note on Wednesday, January 9th. Barclays downgraded Anaplan from an overweight rating to an equal weight rating and lifted their price target for the company from $30.00 to $32.00 in a research note on Friday, February 8th. Needham & Company LLC reissued a buy rating and issued a $38.00 price target on shares of Anaplan in a research note on Friday, February 22nd. SunTrust Banks lifted their price target on Anaplan to $42.00 and gave the company a buy rating in a research note on Tuesday, February 26th. Finally, Canaccord Genuity reissued a buy rating and issued a $40.00 price target on shares of Anaplan in a research note on Tuesday, February 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $33.30.

PLAN stock opened at $40.00 on Monday. The stock has a market cap of $5.06 billion and a price-to-earnings ratio of -23.26. Anaplan has a 1-year low of $20.37 and a 1-year high of $41.76.

Anaplan (NYSE:PLAN) last released its quarterly earnings results on Monday, February 25th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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. Anaplan’s revenue for the quarter was up 49.7% on a year-over-year basis. On average, equities analysts predict that Anaplan will post -1.29 EPS for the current year.

Several large investors have recently added to or reduced their stakes in PLAN. Salesforce Com Inc. acquired a new position in Anaplan during the fourth quarter worth approximately $79,105,000. Arrowgrass Capital Partners US LP acquired a new position in Anaplan during the fourth quarter worth approximately $1,592,000. Meritech Capital Associates IV L.L.C. acquired a new position in Anaplan during the fourth quarter worth approximately $210,369,000. Frontier Capital Management Co. LLC acquired a new position in Anaplan during the fourth quarter worth approximately $8,313,000. Finally, Rhumbline Advisers acquired a new position in Anaplan during the fourth quarter worth approximately $643,000. 35.67% of the stock is currently owned by institutional investors and hedge funds.

Anaplan Company Profile

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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Analyst Recommendations for Anaplan (NYSE:PLAN)

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