Anaplan Inc. (PLAN) PT Raised to $65 at Canaccord Genuity

Canaccord Genuity analyst Richard Davis raised the price target on Anaplan Inc. (NYSE: PLAN) to $65.00 (from $50.00) while maintaining a Buy rating. Anaplan reported an across-the-board upside as RPO increased by 56%, its fastest growth in 8 quarters, and the firm posted a FCF profit for the first time as a public company.

Anaplan remains one of Canaccord Genuity's top picks among super-speeders because the firm is likely to grow rapidly, but also beat forecasts. Beats and raises are among the best indicators of intermediate term stock price outperformance.

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