Anaplan (PLAN) Received its Third Buy in a Row
After Berenberg Bank and Mizuho Securities gave Anaplan (NYSE: PLAN) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Scott Berg assigned a Buy rating to Anaplan today and set a price target of $85.00. The company’s shares closed last Tuesday at $67.22, close to its 52-week high of $67.86.
According to TipRanks.com, Berg is a top 25 analyst with an average return of 27.2% and a 72.4% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, BigCommerce Holdings, and Cornerstone Ondemand.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Anaplan with a $70.11 average price target, which is a 1.6% upside from current levels. In a report issued on November 10, Berenberg Bank also initiated coverage with a Buy rating on the stock with a $75.00 price target.
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The company has a one-year high of $67.86 and a one-year low of $26.04. Currently, Anaplan has an average volume of 2.4M.
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Anaplan, Inc. engages in the provision of cloud-based connected planning platform that helps connect organizations and people to make better and faster decisions. 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.