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Anaplan (PLAN) Receives a Buy from Jefferies

Jefferies analyst Brent Thill maintained a Buy rating on Anaplan (PLANResearch Report) on March 3 and set a price target of $70.00. The company’s shares closed last Friday at $49.09.

According to TipRanks.com, Thill is a 4-star analyst with an average return of 5.3% and a 41.1% success rate. Thill covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Palantir Technologies, and Procore Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Anaplan with a $63.80 average price target, which is a 30.9% upside from current levels. In a report issued on March 3, Needham also maintained a Buy rating on the stock with a $65.00 price target.

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Based on Anaplan’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $155 million and GAAP net loss of $40.98 million. In comparison, last year the company earned revenue of $123 million and had a GAAP net loss of $42.05 million.

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Anaplan, Inc. engages in the provision of cloud-based connected planning platform that helps connect organizations and people to make better and faster decisions. 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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