Anaplan Inc. (PLAN) PT Raised to $83 at RBC Capital

RBC Capital analyst Alex Zukin raised the price target on Anaplan Inc. (NYSE: PLAN) to $83.00 (from $75.00) while maintaining an Outperform rating following results.

The analyst commented, "PLAN reported a strong F3Q21 earnings report highlighted by a second quarter of strong billings outperformance and an unexpected FY22 revenue outlook that aligned with the current consensus estimate. Reiterate OP rating and increase PT to $83 (18x EV/CY22E revenue)."

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