Anaplan (NYSE:PLAN) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Anaplan (NYSE:PLAN) from a strong-buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

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. “

A number of other brokerages also recently weighed in on PLAN. Goldman Sachs Group increased their price target on shares of Anaplan from $51.00 to $57.00 and gave the company a buy rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. KeyCorp started coverage on Anaplan in a research note on Wednesday, July 1st. They set an overweight rating and a $55.00 target price for the company. Needham & Company LLC reissued a buy rating and set a $55.00 target price (down from $65.00) on shares of Anaplan in a research note on Monday, April 13th. Mizuho increased their target price on Anaplan from $50.00 to $58.00 and gave the stock a buy rating in a research note on Wednesday, May 27th. Finally, Morgan Stanley increased their target price on Anaplan from $35.00 to $44.00 and gave the stock an equal weight rating in a research note on Friday, May 22nd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Anaplan currently has a consensus rating of Buy and a consensus target price of $51.79.

Shares of NYSE:PLAN opened at $45.41 on Wednesday. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -40.19 and a beta of 2.00. The firm’s 50 day simple moving average is $46.18 and its 200 day simple moving average is $45.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.49 and a quick ratio of 1.49. Anaplan has a fifty-two week low of $26.04 and a fifty-two week high of $63.71.

Anaplan (NYSE:PLAN) last announced its quarterly earnings results on Tuesday, May 26th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $103.80 million for the quarter, compared to the consensus estimate of $100.59 million. Anaplan had a negative net margin of 40.32% and a negative return on equity of 48.56%. Anaplan’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period last year, the company posted ($0.16) EPS. Equities research analysts expect that Anaplan will post -1.12 earnings per share for the current year.

In related news, CEO Frank Calderoni sold 30,000 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $49.51, for a total value of $1,485,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,474,639 shares of the company’s stock, valued at $73,009,376.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gagan Dhingra sold 1,921 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $44.81, for a total transaction of $86,080.01. The disclosure for this sale can be found here. Insiders sold 270,144 shares of company stock valued at $12,659,450 over the last three months. 7.30% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Valmark Advisers Inc. acquired a new stake in shares of Anaplan during the second quarter worth $483,000. Mackay Shields LLC lifted its holdings in shares of Anaplan by 44.9% during the second quarter. Mackay Shields LLC now owns 24,294 shares of the company’s stock worth $1,101,000 after buying an additional 7,523 shares in the last quarter. Avitas Wealth Management LLC acquired a new stake in shares of Anaplan during the second quarter worth $225,000. Malaga Cove Capital LLC lifted its holdings in shares of Anaplan by 68.4% during the second quarter. Malaga Cove Capital LLC now owns 20,560 shares of the company’s stock worth $932,000 after buying an additional 8,349 shares in the last quarter. Finally, Sciencast Management LP acquired a new stake in shares of Anaplan during the second quarter worth $2,322,000. 88.06% of the stock is owned by institutional investors and hedge funds.

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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