$PLAN, Evercore see 27% upside in Anaplan.
Possible reversal trade opportunity.
Average analysts price target $63 | Overweight.
Recent upgrade
Evercore ISI analyst Kirk Materne upgraded Anaplan to Outperform from In Line with a $57 price target as he believes the recent pullback in the stock sets up a more attractive risk/reward for what he continues to view as a "category killer" in the connected planning market. Valuation and tougher compares will remain the biggest hurdles in the near-term, but the company could ultimately scale to a 11B+ revenue business, said Materne, who added that his partner checks indicate it is still "very early innings" in terms of the shift to cloud-based planning software.
Company profile
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.
Average analysts price target $63 | Overweight.
Recent upgrade
Evercore ISI analyst Kirk Materne upgraded Anaplan to Outperform from In Line with a $57 price target as he believes the recent pullback in the stock sets up a more attractive risk/reward for what he continues to view as a "category killer" in the connected planning market. Valuation and tougher compares will remain the biggest hurdles in the near-term, but the company could ultimately scale to a 11B+ revenue business, said Materne, who added that his partner checks indicate it is still "very early innings" in terms of the shift to cloud-based planning software.
Company profile
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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