In a report released yesterday, Brent Bracelin from KeyBanc maintained a Hold rating on Anaplan Inc (PLAN). The company’s shares opened today at $36.71, close to its 52-week high of $39.66.
“We are raising our estimates and increasing the bull-case target to $47 from $36, but maintain a Sector Weight rating on valuation given a balanced risk-reward profile ahead of the April 10th IPO lock-up expiration.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 27.1% and a 78.5% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Everbridge Inc.
Anaplan Inc has an analyst consensus of Moderate Buy, with a price target consensus of $40.67, implying a 10.8% upside from current levels. In a report released yesterday, Barclays also maintained a Hold 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.