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

Anaplan (NYSE:PLAN) issued its earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.06, MarketWatch Earnings reports. The business had revenue of $155.30 million for the quarter, compared to analyst estimates of $146.31 million. Anaplan had a negative net margin of 35.47% and a negative return on equity of 64.29%. Anaplan’s revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.24) earnings per share. Anaplan updated its Q4 2022 guidance to EPS and its FY 2022 guidance to EPS.

PLAN traded down $1.94 during trading on Tuesday, hitting $52.06. 3,243,212 shares of the company traded hands, compared to its average volume of 2,036,707. The firm has a market cap of $7.61 billion, a P/E ratio of -41.32 and a beta of 1.88. Anaplan has a one year low of $46.00 and a one year high of $86.17. The stock’s fifty day moving average is $62.66 and its 200 day moving average is $58.60.

Several brokerages recently issued reports on PLAN. Truist increased their target price on shares of Anaplan from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, September 1st. JMP Securities increased their target price on shares of Anaplan from $82.00 to $87.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 1st. Wells Fargo & Company increased their target price on shares of Anaplan from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 1st. They noted that the move was a valuation call. Canaccord Genuity reissued a “buy” rating and set a $80.00 target price on shares of Anaplan in a research note on Wednesday, September 1st. Finally, Truist Securities increased their target price on shares of Anaplan from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, September 1st. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $79.13.

In other Anaplan news, CEO Frank Calderoni sold 45,000 shares of the stock in a transaction on Monday, October 11th. The stock was sold at an average price of $60.06, for a total transaction of $2,702,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Gagan Dhingra sold 870 shares of the stock in a transaction on Tuesday, September 14th. The stock was sold at an average price of $64.94, for a total value of $56,497.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 496,094 shares of company stock worth $32,646,403. Insiders own 5.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. UBS Group AG increased its holdings in shares of Anaplan by 16,021.5% in the third quarter. UBS Group AG now owns 38,208 shares of the company’s stock worth $2,326,000 after purchasing an additional 37,971 shares during the period. LPL Financial LLC increased its holdings in shares of Anaplan by 20.7% in the third quarter. LPL Financial LLC now owns 11,694 shares of the company’s stock worth $712,000 after purchasing an additional 2,007 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Anaplan by 36.0% in the third quarter. BNP Paribas Arbitrage SA now owns 8,745 shares of the company’s stock worth $532,000 after purchasing an additional 2,313 shares during the period. 90.08% of the stock is currently owned by hedge funds and other institutional investors.

Anaplan Company Profile

Anaplan, Inc engages in the provision of cloud-based connected planning platform that connects organizations and people for decision making. 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.

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Earnings History for Anaplan (NYSE:PLAN)

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