Home Analyst Ratings Anaplan Inc. gets an upgrade to an Overweight from Wells Fargo

Anaplan Inc. [PLAN] gets an upgrade to an Overweight from Wells Fargo

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.‎

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