Monness Crespi & Hardt Lowers Anaplan (NYSE:PLAN) Price Target to $42.00

Anaplan (NYSE:PLAN) had its price objective decreased by Monness Crespi & Hardt from $74.00 to $42.00 in a research report report published on Monday, Briefing.com Automated Import reports. Monness Crespi & Hardt currently has a buy rating on the stock.

Several other analysts have also recently commented on the company. Zacks Investment Research cut Anaplan from a buy rating to a hold rating in a research report on Tuesday, March 3rd. Morgan Stanley decreased their target price on Anaplan from $65.00 to $53.00 and set an equal weight rating for the company in a research report on Friday, February 28th. FBN Securities decreased their target price on Anaplan from $70.00 to $60.00 and set an outperform rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities reaffirmed a buy rating and issued a $71.00 target price on shares of Anaplan in a research report on Monday, February 24th. Finally, ValuEngine upgraded Anaplan from a hold rating to a buy rating in a report on Tuesday, March 17th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $57.74.

Shares of Anaplan stock traded up $1.72 during midday trading on Monday, hitting $35.72. The company’s stock had a trading volume of 1,541,529 shares, compared to its average volume of 3,040,785. The firm has a market capitalization of $4.84 billion, a P/E ratio of -31.33 and a beta of 1.42. The stock has a 50-day simple moving average of $47.62 and a 200-day simple moving average of $50.47. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.11. Anaplan has a 1-year low of $26.10 and a 1-year high of $63.71.

Anaplan (NYSE:PLAN) last issued its earnings results on Thursday, February 27th. The company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. The business had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $97.17 million. Anaplan had a negative return on equity of 47.47% and a negative net margin of 42.88%. Anaplan’s revenue was up 41.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.13) earnings per share. As a group, sell-side analysts predict that Anaplan will post -1.18 earnings per share for the current year.

In other Anaplan news, CFO David H. Morton, Jr. sold 30,806 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $36.60, for a total transaction of $1,127,499.60. Following the transaction, the chief financial officer now directly owns 18,219 shares in the company, valued at $666,815.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frank Calderoni sold 3,758 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $36.66, for a total value of $137,768.28. Following the transaction, the chief executive officer now owns 1,258,866 shares in the company, valued at $46,150,027.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 372,845 shares of company stock valued at $16,747,400. 37.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. raised its holdings in Anaplan by 25.6% during the fourth quarter. Macquarie Group Ltd. now owns 88,988 shares of the company’s stock valued at $4,663,000 after buying an additional 18,124 shares in the last quarter. Franklin Resources Inc. raised its holdings in Anaplan by 66.3% during the fourth quarter. Franklin Resources Inc. now owns 754,685 shares of the company’s stock valued at $39,545,000 after buying an additional 300,985 shares in the last quarter. Norges Bank bought a new position in Anaplan during the fourth quarter valued at about $38,408,000. 1832 Asset Management L.P. bought a new position in Anaplan during the fourth quarter valued at about $44,373,000. Finally, Archer Investment Corp bought a new position in Anaplan during the fourth quarter valued at about $26,000. Institutional investors own 79.65% of the company’s stock.

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.

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