Anaplan Inc (PLAN) received a Hold rating from KeyBanc analyst Brent Bracelin today. The company’s shares closed yesterday at $23.92.
Bracelin commented:
“We estimate revenue could triple to $765M in five years. We see multiple growth drivers over the next five years as the Company lands additional G2K customers, expands across geographies, use-cases, and departments at existing customers, with the potential for net dollar retention rate to remain above 120%. Our base-case forecast has revenue climbing to $765M in five years while the bull case could top $1.5B on a 44% CAGR. Initiating coverage at Sector Weight. We have a bullish view on growth potential for PLAN based on 1) increasing business volatility driving the need for modern planning software; 2) an impressive net dollar retention rate above 120%; 3) veteran leadership; and 4) a large TAM opportunity with expanding footprint at the G2K. That said, we are initiating at Sector Weight given shares have risen 41% above the IPO (vs.”
According to TipRanks.com, Bracelin is a top 100 analyst with an average return of 20.0% and a 70.6% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Ellie Mae Inc.
Anaplan Inc has an analyst consensus of Hold.
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Based on Anaplan Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $21.05 million. In comparison, last year the company had a GAAP net loss of $11.77 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PLAN in relation to earlier this year.
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Anaplan, Inc. engages in the provision of cloud platform, which addresses the connected planning need of all organizations with focus on largest global enterprises. It also offers professional services, including consulting, implementation, and training.
