- Advertisement -spot_img
Friday, November 26, 2021

Anaplan shares plummet as analysts slash third-quarter targets

Analysts have cut price targets for Anaplan Inc. shares despite an upbeat outlook for the third quarter. Goldman Sachs analyst Kash Rangan lowered its target price (PT) to $ 58 from $ 67 (11.4% upside) and remained neutral.

Rangan sees continued volatility in accounts, but believes Anaplan remains well positioned to capitalize on the recovery in demand.

However, given the increasing competition in the market in the long term, he prefers to own Workday Inc. due to the fact that the office of the CFO is more and more digitized.

Morgan Stanley analyst Stan Zlotsky downgraded PT to $ 73 from $ 80 (40.2 percent upside) and retained the lead.

Mizuho City analyst Panigrahi lowered PT to $ 70 from $ 90 and kept the purchase.

Wells Fargo analyst Michael Turrin lowered PT to $ 75 from $ 85 (44.1 percent upside) and retained the lead.

KeyBanc analyst Josh Beck cut PT to $ 60 from $ 80 (15.3% upside) and maintains the edge.

Read Also:  UC Irvine Builds $ 1.3 Billion Hospital

Wolfe Research analyst Alex Zukin lowered PT to $ 55 from $ 77 (5.6 percent upside) and maintained outperformance.

Truist analyst Terry Tillman downgraded PT to $ 70 from $ 80 (34.5 percent upside) and kept the purchase.

Canaccord analyst Joseph Wafi lowered PT to $ 70 from $ 80 and kept the purchase.

Jefferies analyst Brent Till lowered PT to $ 70 from $ 85 and kept the purchase.

Piper Sandler analyst Brent Bracelin is downgraded to neutral from a target price of $ 48 from $ 77 (down 7.8%).

Barclays analyst Raimo Lenshov lowered PT to $ 68 from $ 84 (30.6 percent upside) and maintained equal weight.

Price Action

Anaplan shares fell 15.06% to $ 44.22 on Thursday’s last check.

Author: Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

To follow

World Nation News Deskhttps://www.worldnationnews.com
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
Latest news
Related news
- Advertisement -

Leave a Reply