Anaplan (NYSE:PLAN) Issues Earnings Results, Beats Expectations By $0.06 EPS

Anaplan (NYSE:PLANGet Rating) released its quarterly earnings results on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06, Fidelity Earnings reports. Anaplan had a negative net margin of 34.38% and a negative return on equity of 75.03%. The firm had revenue of $169.20 million for the quarter, compared to analysts’ expectations of $165.28 million. During the same quarter last year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year.

NYSE PLAN opened at $65.54 on Friday. The firm has a market capitalization of $9.84 billion, a P/E ratio of -47.15 and a beta of 1.77. Anaplan has a 1-year low of $39.92 and a 1-year high of $70.25. The business’s 50-day simple moving average is $64.74 and its 200-day simple moving average is $53.25.

Several equities research analysts have issued reports on the stock. Truist Financial cut shares of Anaplan from a “buy” rating to a “hold” rating in a research note on Tuesday, March 29th. BMO Capital Markets lifted their target price on shares of Anaplan from $49.00 to $55.00 and gave the stock a “market perform” rating in a research note on Thursday, March 3rd. Loop Capital lifted their target price on shares of Anaplan from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, March 3rd. Citigroup initiated coverage on shares of Anaplan in a research report on Tuesday, February 1st. They set a “hold” rating and a $49.00 price target on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Anaplan in a research report on Monday, March 21st. Seventeen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $64.81.

In other news, CFO Vikas D. Mehta sold 11,441 shares of Anaplan stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $45.94, for a total value of $525,599.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO William Schuh sold 5,037 shares of Anaplan stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $45.94, for a total value of $231,399.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,906 shares of company stock worth $5,528,642. Company insiders own 5.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PLAN. Goldman Sachs Group Inc. boosted its position in Anaplan by 328.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,096,480 shares of the company’s stock worth $266,476,000 after acquiring an additional 3,140,643 shares during the period. Weiss Multi Strategy Advisers LLC raised its position in shares of Anaplan by 1,454.4% during the first quarter. Weiss Multi Strategy Advisers LLC now owns 498,545 shares of the company’s stock worth $32,430,000 after purchasing an additional 466,471 shares during the period. BlackRock Inc. raised its position in shares of Anaplan by 4.8% during the fourth quarter. BlackRock Inc. now owns 6,360,516 shares of the company’s stock worth $291,629,000 after purchasing an additional 293,023 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Anaplan during the first quarter worth $18,548,000. Finally, Gabelli Funds LLC acquired a new stake in shares of Anaplan during the first quarter worth $17,414,000. Institutional investors own 96.53% of the company’s stock.

About Anaplan (Get Rating)

Anaplan, Inc provides a cloud-based connected planning platform to connect organizations and people in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its platform in-memory data storage and calculation capabilities deliver calculations of data in real time and provide a single source of information for planning, ensuring the consistency, quality, and integrity of the data utilized across the enterprise.

Further Reading

Earnings History for Anaplan (NYSE:PLAN)

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