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Anaplan Shares Pop As Analysts Cheer Q4 Earnings

·1 min read
  • Analysts raised their price targets on Anaplan Inc (NYSE: PLAN) post Q4 results.

  • Mizuho analyst Siti Panigrahi raised the PT to $65 from $60 (26.7% upside) and kept a Buy.

  • The company posted Q4 results and raised its fiscal 2023 guide above consensus estimates, the latest back-office player to benefit from the enterprise spending resumption.

  • Wells Fargo analyst Michael Turrin maintained an Overweight and raised the PT from $60 to $65.

  • Needham analyst Scott Berg maintained a Buy and lowered the PT from $95 to $65.

  • Morgan Stanley analyst Stan Zlotsky maintained an Equal-Weight and raised the PT from $48 to $52 (fair priced).

  • Barclays analyst Raimo Lenschow maintained an Overweight and raised the PT from $58 to $59 (15% upside).

  • Loop Capital analyst Yun Kim raised the PT to $50 from $45 (fair-priced) but kept a Hold.

  • The company's Q3 results were "solid." Anaplan reported the highest ACV and net new ACV growth in 3 years, driven by a strong resurgence in considerable deal activity.

  • But he is wary of increasing competition and whether it can maintain the current strength in the new customer activity consistently.

  • Price Action: PLAN shares traded higher by 6.58% at $49.74 on the last check Thursday.

Latest Ratings for PLAN

Mar 2022

Mizuho

Maintains

Buy

Mar 2022

Morgan Stanley

Maintains

Equal-Weight

Mar 2022

Wells Fargo

Maintains

Overweight

View More Analyst Ratings for PLAN

View the Latest Analyst Ratings

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