PLAN

Anaplan Inc

TMT


Presented:06/29/2021
Price:$55.23
Cap:$7.99B
Current Price:$63.73
Cap:$9.59B

Presented

Date06/29/2021
Price$55.23
Market Cap$7.99B
Ent Value$8.33B
P/E RatioN/A
Book Value$1.82
Div Yield0%
Shares O/S144.73M
Ave Daily Vol2,584,679
Short Int7.39%

Current

Price$63.73
Market Cap$9.59B
Anaplan, Inc. engages in the provision of cloud-based connected planning platform that connects organizations and people for decision making. It also offers professional services, including consulting, implementation and training. The company was founded by Michael Gould, John David Guy Haddleton and Sue Haddleton in 2006 and is headquartered in San Francisco, CA.

Publicly traded companies mentioned herein: Amazon.com Inc (AMZN), Anaplan Inc (PLAN), Coupa Software Inc (COUP), Fastly Inc (FSLY), Five9 Inc (FIVN), Microsoft Corp (MSFT), Oracle Corp (ORCL), SAP SE (SAP), Zscaler Inc (ZS)

Highlights

The presenter is long shares of Anaplan Inc (PLAN), which offers a cloud-based Connected Planning platform for enterprise customers. PLAN initially offered FP&A connected planning before slowly expanding into other capabilities such as sales, supply chain management (SCM), human resources (HR), marketing, and operations. Based on conversations with customers and industry experts, he believes PLAN’s platform, which is backed by the company’s proprietary Hyperblock technology, is the most powerful connected planning platform and is therefore really resonating with customers. The presenter makes a point that AMZN, which runs the world’s largest and most complex operations, is a user of PLAN’s platform and is expanding its spending on PLAN, which is further evidence of how powerful PLAN’s platform is. Going forward, he expects top line growth to accelerate, leading to upside in both consensus revenue estimates and the current ~12x NTM sales valuation. His base case values PLAN at 20x CY2022 revenues, which equates to a ~$100 share price target (82% upside from the current $55 share price). He also sees incremental upside beyond that base case target and limited downside based on PLAN’s growth profile and the potential for either activist involvement or a strategic buyer.

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Idea Discussion

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