Anaplan (NYSE:PLAN) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Anaplan (NYSE:PLAN) from a hold rating to a buy rating in a report published on Saturday, Zacks.com reports. The brokerage currently has $65.00 price objective on the stock.

According to Zacks, “Anaplan, Inc. develops and publishes a cloud platform for business applications. The Company offers a platform which allow business users to build and maintain strategic, operational and business planning and performance management. Anaplan, Inc. is based in CA, United States. “

PLAN has been the subject of a number of other reports. Morgan Stanley reissued a hold rating and issued a $54.00 price target (up from $53.00) on shares of Anaplan in a research report on Friday, November 22nd. Citigroup started coverage on shares of Anaplan in a research report on Friday, October 25th. They issued a neutral rating and a $49.00 price target for the company. ValuEngine lowered shares of Anaplan from a hold rating to a sell rating in a research report on Saturday, January 4th. Evercore ISI reissued a buy rating and issued a $65.00 price target on shares of Anaplan in a research report on Sunday, November 24th. Finally, Barclays reissued a hold rating and issued a $55.00 price target on shares of Anaplan in a research report on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $62.06.

NYSE PLAN opened at $57.04 on Friday. The company has a 50 day simple moving average of $53.42 and a 200-day simple moving average of $52.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of -33.16 and a beta of 0.95. Anaplan has a 52-week low of $26.53 and a 52-week high of $60.36.

Anaplan (NYSE:PLAN) last posted its quarterly earnings results on Thursday, November 21st. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The business had revenue of $89.41 million during the quarter, compared to analyst estimates of $86.47 million. Anaplan had a negative net margin of 45.48% and a negative return on equity of 46.75%. The firm’s revenue was up 44.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) earnings per share. On average, analysts predict that Anaplan will post -1.08 EPS for the current year.

In other news, CEO Frank Calderoni sold 30,000 shares of Anaplan stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $47.80, for a total value of $1,434,000.00. Also, CFO David H. Morton, Jr. sold 33,430 shares of Anaplan stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $51.00, for a total transaction of $1,704,930.00. Following the completion of the transaction, the chief financial officer now directly owns 69,018 shares in the company, valued at approximately $3,519,918. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 243,455 shares of company stock worth $12,637,344. Insiders own 37.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Anaplan by 18.9% in the second quarter. Royal Bank of Canada now owns 1,768 shares of the company’s stock valued at $89,000 after purchasing an additional 281 shares during the period. Voya Investment Management LLC raised its position in shares of Anaplan by 1.4% in the third quarter. Voya Investment Management LLC now owns 23,031 shares of the company’s stock valued at $1,082,000 after purchasing an additional 322 shares during the period. First Trust Advisors LP raised its position in shares of Anaplan by 0.4% in the first quarter. First Trust Advisors LP now owns 104,734 shares of the company’s stock valued at $4,122,000 after purchasing an additional 387 shares during the period. Metropolitan Life Insurance Co NY raised its position in shares of Anaplan by 6.7% in the third quarter. Metropolitan Life Insurance Co NY now owns 6,171 shares of the company’s stock valued at $290,000 after purchasing an additional 388 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in shares of Anaplan in the third quarter valued at approximately $40,000. 70.26% of the stock is currently owned by institutional investors.

About Anaplan

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.

Featured Article: Golden Cross

Get a free copy of the Zacks research report on Anaplan (PLAN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Anaplan (NYSE:PLAN)

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.