Wells Fargo took its Anaplan [PLAN] rating to the equivalent of Overweight from Equal-Weight, and the price target to $85, in a research note dated 2021-01-05. That figure represents around a 21.81% premium from where the company’s shares closed on Monday. Some new analysts also started their coverage, with Berenberg’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in early November. Meanwhile, Jefferies had launched its coverage on PLAN with ”Hold”, in a research note produced for clients October 07, 2020. In addition, there was no change from Needham on August 27, 2020. The rater maintained PLAN to “a Buy” but assigned new target price of $70.
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Is Anaplan Inc. [NYSE:PLAN] a Good Buy Right Now?
It should be noted that PLAN technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Anaplan Inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 1.67 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 2.07 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 2.27 million shares.
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PLAN Price Performance
On Wall Street, Anaplan Inc. [NYSE:PLAN] finished Monday’s session down -2.80% at $69.84. The stock went up to $72.00 at the same session while its lowest single day price was $67.93. In the last five days, it saw a fall of about -3.96%, Anaplan Inc. shares dropped by almost -2.80% since the beginning of the year. However, the share price has dropped to as low as -8.55% below its one year high. On 01/04/21, the company shares recorded $72.00, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $67.93. The company’s shares have inclined by 28.50% in the past year. The 50-day SMA achieved is $66.01 while the 200-day SMA is $52.11. Volume gained to 2.23 million from 1.52 million in the previous session.
PLAN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 67.85 level, and in case of violation of this particular level, it will cause more drop to 65.85 level. On the upper level, 73.99 is still the key resistance. The stock may increase to the subsequent resistance at 71.92. The Relative Strength Index (RSI) pinned on the 14-day chart is 49.46, implying a neutral technical stance while the MACD stands at -0.31, meaning price will decrease in the next trading period. Percent R indicator moved to 77.37%, implying bearish price movement. Stochastic %K at 43.46% suggest selling the stock.
What is the short interest in Anaplan Inc.?
Short interest in the Anaplan Inc. stock has plunged, decreasing by -0.81 million shares to total 24.35 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 23.54 million, data from Yahoo Finance shows. The increase of 3.33% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 18.06% of the overall float for the stock.
Anaplan Inc.’s Biggest Shareholders: Who Owns Anaplan Inc. [PLAN]?
Filings by Coatue Management LLC showed that the firm now holds a total of 12,158,094 shares or roughly 8.70% of the outstanding PLAN shares. This means their shares have increased by 3,526,010 from the 12,158,094 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $795,926,840. Details in the latest 13F filings reveal that Tiger Global Management LLC disposed off their 0.00% stake valued at $475,995,201 while BlackRock Fund Advisors added theirs at $411,655,914. During the last quarter, Tiger Global Management LLC liquidated 0 of its shares in Anaplan Inc. while BlackRock Fund Advisors bought 740,954 shares. The Brown Capital Management LLC’s holdings currently number 4,884,177 shares at $341110921.68. According to the firm’s last 13F report, Fidelity Management & Research Co shares in the company at filing stood at 4,586,525 shares, roughly $321,010,885.
PLAN Earnings Forecast For The Current Quarter
Anaplan Inc. [PLAN] is expected to report weak earnings results for the quarter ending on Jan 2021. Consensus estimates give the company expected revenues of $119.18M and an earnings per share of -$0.1 for Jan 2021. Looking further ahead, the company is expected to report revenue of $126.32M at an EPS of -$0.1 for Apr 2021. The estimates represent upside of 24.00% and 6.70% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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PLAN Earnings Estimates For The Current Year
For the financial year, Anaplan Inc. [NYSE:PLAN] is expected to bring in revenue of $444.47M. The returns are nearly $96.45 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at -0.3, higher than that of FY20 by $0.14. Estimates put this year’s earnings growth at 31.80%, 6.70% for the next. As for sales, forecasts are for an increase of 27.70% in the current fiscal year and a further 24.00% over the following year.
