Compass Point began coverage on shares of Anaplan (NYSE:PLAN) in a research report released on Tuesday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $58.00 target price on the stock.

A number of other equities research analysts have also recently commented on PLAN. JMP Securities increased their price target on Anaplan from $40.00 to $50.00 and gave the company an outperform rating in a research note on Tuesday, May 28th. Barclays increased their price target on Anaplan from $38.00 to $43.00 and gave the company a neutral rating in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Goldman Sachs Group cut 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. Zacks Investment Research cut Anaplan from a buy rating to a hold rating in a research note on Wednesday, August 7th. Finally, Monness Crespi & Hardt increased their price target on Anaplan from $50.00 to $62.00 and gave the company a buy rating in a research note on Tuesday, May 28th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $49.61.

Anaplan stock opened at $58.03 on Tuesday. The stock has a 50-day moving average of $55.75 and a two-hundred day moving average of $43.30. 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 has a one year low of $20.37 and a one year high of $60.36.

Anaplan (NYSE:PLAN) last released its quarterly earnings results on Tuesday, May 28th. The company reported ($0.16) EPS for the quarter, beating 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 company’s revenue was up 46.9% compared to the same quarter last year. As a group, sell-side 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 dated Friday, June 28th. The stock was sold at an average price of $49.52, for a total value of $24,512,400.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Frank Calderoni sold 49,703 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was 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. Insiders sold 1,388,560 shares of company stock worth $68,643,556 over the last three months. Corporate insiders own 37.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its holdings in Anaplan by 16.3% during the first quarter. Wells Fargo & Company MN now owns 728,209 shares of the company’s stock worth $28,662,000 after acquiring an additional 101,832 shares during the period. Bank of America Corp DE acquired a new stake in Anaplan during the fourth quarter worth about $1,529,000. Norges Bank acquired a new stake in Anaplan during the fourth quarter worth about $398,000. Deutsche Bank AG acquired a new stake in Anaplan during the fourth quarter worth about $1,192,000. Finally, Legal & General Group Plc acquired a new stake in Anaplan during the fourth quarter worth about $74,000. 36.15% of the stock is currently owned by hedge funds and other institutional investors.

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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