Anaplan (NYSE:PLAN) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Anaplan (NYSE:PLAN) issued its quarterly earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06, MarketWatch Earnings reports. Anaplan had a negative net margin of 35.47% and a negative return on equity of 64.29%. The business had revenue of $155.30 million for the quarter, compared to analysts’ expectations of $146.31 million. During the same quarter last year, the company posted ($0.24) earnings per share. The company’s quarterly revenue was up 35.2% compared to the same quarter last year. Anaplan updated its Q4 2022 guidance to EPS and its FY 2022 guidance to EPS.

Shares of NYSE:PLAN traded down $7.84 during trading hours on Thursday, hitting $44.22. The stock had a trading volume of 19,865,061 shares, compared to its average volume of 2,115,816. The stock’s fifty day simple moving average is $61.81 and its 200 day simple moving average is $58.40. Anaplan has a 1-year low of $40.13 and a 1-year high of $86.17. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of -35.10 and a beta of 1.88.

PLAN has been the topic of several research analyst reports. Loop Capital reduced their price target on shares of Anaplan from $65.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday. Truist Securities dropped their price objective on shares of Anaplan from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group began coverage on shares of Anaplan in a research note on Friday, October 1st. They set a “buy” rating and a $72.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Anaplan from $80.00 to $73.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, KeyCorp dropped their price objective on shares of Anaplan from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $69.90.

In related news, insider Ana G. Pinczuk sold 10,261 shares of the firm’s stock in a transaction that occurred on Tuesday, September 14th. The shares were sold at an average price of $64.94, for a total transaction of $666,349.34. Following the transaction, the insider now owns 41,653 shares in the company, valued at $2,704,945.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Gagan Dhingra sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. The disclosure for this sale can be found here. Insiders sold 496,094 shares of company stock worth $32,646,403 in the last 90 days. 5.20% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. LPL Financial LLC boosted its holdings in Anaplan by 20.7% during the third quarter. LPL Financial LLC now owns 11,694 shares of the company’s stock worth $712,000 after buying an additional 2,007 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Anaplan by 36.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,745 shares of the company’s stock worth $532,000 after purchasing an additional 2,313 shares during the period. Finally, UBS Group AG boosted its stake in Anaplan by 16,021.5% in the 3rd quarter. UBS Group AG now owns 38,208 shares of the company’s stock worth $2,326,000 after purchasing an additional 37,971 shares during the period. Hedge funds and other institutional investors own 90.08% of the company’s stock.

About Anaplan

Anaplan, Inc engages in the provision of cloud-based connected planning platform that connects organizations and people for decision making. 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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Earnings History for Anaplan (NYSE:PLAN)

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