KeyBanc upgrades Anaplan (NYSE: PLAN) to Overweight

Start trading
Updated: 07 June 2019
Top 5 Forex Brokers:
Compare Forex Brokers
Top 5 Crypto Brokers:
Compare Crypto Brokers
Top 5 Stocks Brokers:
Compare Stocks Brokers
  • Bank raises rating from Sector Weight, sets $57 price target
  • Bullish on software company’s revenue growth potential
  • PLAN has Outperform Sell Side rating
  • Shares rise to $48.50

Anaplan (NYSE: PLAN) shares climbed 2.4% in premarket after KeyBanc upgraded the software company to Overweight and set a $57 price target.

Analysts are increasingly confident about the San Francisco-based enterprise’s ability to realise its revenue growth potential. PLAN has delivered net revenue retention in excess of 120% and a billings uptick in the last three quarters. The performance has “alleviated initial sales execution concerns” following its IPO.