Anaplan Inc (NYSE:PLAN) has been assigned a consensus rating of “Buy” from the sixteen analysts that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $47.80.

PLAN has been the subject of a number of research analyst reports. Macquarie initiated coverage on Anaplan in a research note on Monday, July 15th. They issued an “outperform” rating and a $65.00 price target for the company. JMP Securities raised their price target on Anaplan from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 28th. Zacks Investment Research lowered Anaplan from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Goldman Sachs Group lowered Anaplan from a “buy” rating to a “neutral” rating and set a $53.20 price target for the company. in a research note on Monday, July 1st. Finally, Deutsche Bank initiated coverage on Anaplan in a research note on Wednesday, July 24th. They issued a “buy” rating and a $70.00 price target for the company.

In other Anaplan news, insider David Ying Xian Chung sold 21,239 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $41.71, for a total value of $885,878.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Frank Calderoni sold 49,703 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $56.03, for a total value of $2,784,859.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,387,603 shares of company stock valued at $68,590,442. 37.20% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Parallel Advisors LLC bought a new position in shares of Anaplan during the second quarter valued at $35,000. Advisory Services Network LLC bought a new position in shares of Anaplan during the first quarter valued at $39,000. Advisor Group Inc. bought a new position in shares of Anaplan during the fourth quarter valued at $41,000. Quantamental Technologies LLC bought a new position in shares of Anaplan during the second quarter valued at $43,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Anaplan during the second quarter valued at $58,000. Hedge funds and other institutional investors own 36.15% of the company’s stock.

PLAN stock traded up $0.84 on Thursday, reaching $56.68. The company’s stock had a trading volume of 1,018,100 shares, compared to its average volume of 1,472,037. The company has a fifty day moving average price of $55.24. Anaplan has a 12-month low of $20.37 and a 12-month high of $60.36. The stock has a market capitalization of $7.28 billion and a price-to-earnings ratio of -32.95. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.11.

Anaplan (NYSE:PLAN) last announced its quarterly earnings results on Tuesday, May 28th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.18. The business had revenue of $75.80 million during the quarter, compared to analysts’ expectations of $70.66 million. The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year. On average, equities analysts expect that Anaplan will post -1.15 EPS for the current year.

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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Analyst Recommendations for Anaplan (NYSE:PLAN)

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