The stock of Anaplan, Inc. (NYSE:PLAN) is now priced at $61.64 and the shares are -0.25 points down or -0.4% lower compared to its previous closing price of $61.89. The stock had 2.822 million contracts set over the past session. PLAN shares’ daily volume is compared to its average trading volume at 2.822 million shares. However, it has a float of 126 million and although its performance was 26.03% over the week, it’s one to watch. Analysts have given the PLAN stock a yearly average price target of $63.75 per share. It means the stock’s upside potential is 3.42% with the PLAN share price recently placing at $61.4 to $63.05. However, some brokerage firms have priced the stock below the average, including one that has called $50.
The shorts are running away from the Anaplan, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PLAN shares have declined. Short interest in the stock represents just 13.39% of its float, but the volume has dropped by 0.
In the last trading session, Anaplan, Inc. (NYSE:PLAN) raised by $12.73 over the week and gained $16.23 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $63.71. The stock recorded its established 52-week high on 02/14/20.
Since 04/02/20, the stock has traded to a low of $26.04 at 136.71%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Anaplan, Inc.’s two-week RSI is 80.04. This suggests that the stock is oversold at the moment and that PLAN shares’ price movement remains not stable. The stochastic readings are equally revealing at 89.81% meaning the PLAN share price is currently in oversold territory.
The technical chart shows that the PLAN stock will likely settle at between $62.66 and $63.68 per share. However, if the stock dips below $61.01, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $60.38.
Currently, the stock is trading in the green of MACD, with a reading of 8.36. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Needham though raised target price of PLAN stock from $55 to $70 but maintained Buy recommendation in their August 27 review. Piper Sandler analysts downgraded their recommendation of the stock from Overweight to Neutral in a flash note released to investors on August 26. Barclays analysts see the stock as Equal Weight. Nonetheless, the analysts revised the share prices up on August 24, placing it at $45 from $41.
The average rating for the PLAN equity is 2.2 and is currently gathering a bullish momentum. Of 20 analysts tracking Anaplan, Inc. polled by Reuters, 6 rated PLAN as a hold. The remaining 14 analysts were split evenly. However, the split wasn’t equal as a majority (13) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands below the group’s average of 40.6. Anaplan, Inc. has its P/E ratio at 30, which means that the stock is currently trading at a premium relative to the 13.7 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Anaplan, Inc. (NYSE:PLAN) will decrease by about -99.9%, which will see them reach $109 million. The company’s full-year revenues are, however, expected to increase by about 25.81%, up from $348 million to $438 million. PLAN’s expected adjusted earnings should surge almost 25% to end up at -$0.1 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -15.91% to record -$0.37/share.