In a report released yesterday, Richard Davis from Canaccord Genuity maintained a Buy rating on Anaplan Inc (PLAN), with a price target of $40. The company’s shares opened today at $36.71, close to its 52-week high of $39.66.
According to TipRanks.com, Davis is a top 25 analyst with an average return of 43.3% and a 85.5% success rate. Davis covers the Technology sector, focusing on stocks such as Upland Software, Everbridge Inc, and Workday Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Anaplan Inc with a $40.50 average price target, a 10.3% upside from current levels. In a report issued on February 22, Needham also maintained a Buy rating on the stock with a $38 price target.
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Based on Anaplan Inc’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $37.96 million. In comparison, last year the company had a GAAP net loss of $19.81 million.
Based on the recent corporate insider activity of 11 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.