- 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.