For Anaplan Inc. [PLAN], Analyst sees a rise to $60. What next?



Anaplan Inc. [NYSE: PLAN] slipped around -0.27 points on Tuesday, while shares priced at $64.97 at the close of the session, down -0.41%. The company report on April 6, 2022 that Progressive Planet Announces Issuance of Stock Options.

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Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN”, “Progressive Planet” or the “Company”), an innovative provider of eco-friendly micronized minerals and circular solutions for the construction, agricultural, and industrial sectors, announces that the Board of Directors has granted a total of 1,830,000 stock options.

Options include 1,650,000 issued to directors, officers, and insiders of the Company exercisable at $0.345 for a period of three years. In addition, 180,000 options were issued to employees and consultants of the Company exercisable at $0.345 for a period of three years. All options were granted in accordance with the Company’s stock option plan.

Anaplan Inc. stock is now 41.70% up from its year-to-date (YTD) trading value. PLAN Stock saw the intraday high of $65.25 and lowest of $64.97 per share. The company’s 52-week high price is 70.25, which means current price is +61.62% above from all time high which was touched on 04/21/22.

Compared to the average trading volume of 7.52M shares, PLAN reached a trading volume of 7188660 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Anaplan Inc. [PLAN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLAN shares is $69.01 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLAN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Anaplan Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 03, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $60 to $65. The new note on the price target was released on March 03, 2022, representing the official price target for Anaplan Inc. stock. Previously, the target price had yet another drop from $95 to $65, while Needham kept a Buy rating on PLAN stock. On March 03, 2022, analysts increased their price target for PLAN shares from 48 to 52.

The Average True Range (ATR) for Anaplan Inc. is set at 0.75, with the Price to Sales ratio for PLAN stock in the period of the last 12 months amounting to 16.51. The Price to Book ratio for the last quarter was 36.71, with the Price to Cash per share for the same quarter was set at 1.99.

How has PLAN stock performed recently?

Anaplan Inc. [PLAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.49. With this latest performance, PLAN shares gained by 0.05% in over the last four-week period, additionally sinking by -1.38% over the last 6 months – not to mention a rise of 3.00% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLAN stock in for the last two-week period is set at 69.15, with the RSI for the last a single of trading hit 65.14, and the three-weeks RSI is set at 67.50 for Anaplan Inc. [PLAN]. The present Moving Average for the last 50 days of trading for this stock 56.12, while it was recorded at 65.13 for the last single week of trading, and 55.45 for the last 200 days.

Anaplan Inc. [PLAN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Anaplan Inc. [PLAN] shares currently have an operating margin of -33.89 and a Gross Margin at +66.40. Anaplan Inc.’s Net Margin is presently recorded at -34.38.

Return on Equity for this stock declined to -75.31, with Return on Assets sitting at -25.91.

Anaplan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Insider trade positions for Anaplan Inc. [PLAN]

There are presently around $9,470 million, or 97.10% of PLAN stock, in the hands of institutional investors. The top three institutional holders of PLAN stocks are: VANGUARD GROUP INC with ownership of 13,141,007, which is approximately 3.004% of the company’s market cap and around 0.60% of the total institutional ownership; FMR LLC, holding 10,170,150 shares of the stock with an approximate value of $663.5 million in PLAN stocks shares; and BLACKROCK INC., currently with $414.96 million in PLAN stock with ownership of nearly 4.829% of the company’s market capitalization.

Positions in Anaplan Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 165 institutional holders increased their position in Anaplan Inc. [NYSE:PLAN] by around 39,830,398 shares. Additionally, 174 investors decreased positions by around 30,967,028 shares, while 28 investors held positions by with 74,357,393 shares. The mentioned changes placed institutional holdings at 145,154,819 shares, according to the latest SEC report filing. PLAN stock had 61 new institutional investments in for a total of 16,595,128 shares, while 82 institutional investors sold positions of 17,464,043 shares during the same period.