In a report released today, Brian White from Monness initiated coverage with a Buy rating on Anaplan Inc (PLAN) and a price target of $50. The company’s shares closed on Friday at $38.97, close to its 52-week high of $41.42.
White said:
“We are initiating coverage of Anaplan with a BUY rating and a 12-month price target of $50. Anaplan is recognized as an emerging SaaS vendor focused on the development of next-generation planning solutions for the enterprise market, supporting an expanding list of use cases for knowledge workers across an organization. Specifically, Anaplan describes itself as “pioneering the category of Connected Planning, which allows organizations to transform their businesses by making better and faster decisions.” Today, the vast majority of organizations around the world fall short of their full potential by “planning in the dark” with outdated tools, making it difficult for executives to confidently forge a path forward for their stakeholders.”
According to TipRanks.com, White is a top 25 analyst with an average return of 25.0% and a 73.7% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Salesforce.com, and Alphabet Inc.
Anaplan Inc has an analyst consensus of Moderate Buy, with a price target consensus of $42.40.
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The company has a one-year high of $41.42 and a one-year low of $20.37. Currently, Anaplan Inc has an average volume of 500K.
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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.
