Analysts lowered price targets on Anaplan Inc. despite Q3 beat and upbeat outlook. Goldman Sachs analyst Kash Rangan lowered the Price Target (PT) to $58 from $67 (11.4 percent upside) and kept a Neutral. Rangan sees continued billings volatility but believes Anaplan remains well-positioned to capitalize on a recovery in demand. However, with incremental competition in the market longer-term, he prefers to own Workday Inc. for exposure to increasing digitization within the office of the CFO. Morgan Stanley analyst Stan Zlotsky lowered the PT to $73 from $80 (40.2 percent upside) and kept an Overweight. Mizuho analyst Siti Panigrahi lowered the PT to $70 from $90 and kept a Buy. Wells Fargo analyst Michael Turrin lowered PT to $75 from $85 (44.1 percent upside) and kept an Overweight. KeyBanc analyst Josh Beck lowered PT to $60 from $80 (15.3 percent upside) and kept an Overweight. Wolfe Research analyst Alex Zukin lowered PT to $55 from $77 …
Anaplan Shares Plunge as Analysts Slash Price Targets Post Q3 Beat
November 25, 2021
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