Anaplan Inc. (PLAN) PT Raised to $75 at FBN Securities

FBN Securities analyst Shebly Seyrafi raised the price target on Anaplan Inc. (NYSE: PLAN) to $75.00 (from $70.00) while maintaining a Sector Perform rating.

The analyst commented, "We reiterate our Outperform rating on PLAN and raise our PT from $70 to $75 after the company reported strong FQ3 revenue of $114.9M (up 28% Y/Y and 5% above consensus) and NG operating margin
(-5.3%, way above consensus of -12.8%). The company is noting a strong pipeline, it is guiding for F2022 revenue of $550M (up 24% Y/Y we estimate and above consensus of $542.5M), the number of customers with over $250K in ARR grew by 29% Y/Y to 417, and it materially beat consensus on NG operating margin by reporting a margin of -5.3%, up 4.6pp Y/Y and above consensus of -12.8%. We are impressed by PLAN’s ability to leverage partners to drive growth. PLAN recently announced an elevated partnership with Deloitte (private) to a global strategic level which drove over 300
implementations, and PLAN has new executive partnership with Accenture (ACN, Unrated) and EY (private). Over 2/3 of PLAN’s top 20 deals were partner influenced."

You May Also Be Interested In

• QuantumScape (QS) PT Lowered to $6 at Truist Securities
• Prysmian SpA (PRY:IM) (PRYMY) PT Raised to EUR53 at HSBC
• CIMC Enric Holdings Ltd. (3899:HK) (CIMEF) PT Lowered to HK$8.70 at HSBC