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Fly News Breaks for October 29, 2019
PLAN
Oct 29, 2019 | 06:11 EDT
Piper Jaffray analyst Brent Bracelin assumed coverage of Anaplan with an Overweight rating and $58 price target. "Robust" growth prospects, evident by six quarters of 40%-plus subscription growth in a $21B total addressable market, has been driven by large enterprise customers adopting Connected Planning software as a component of a modern digital enterprise, Bracelin tells investors in a research note. He believes Anaplan has emerged as the leading software-as-a-service alternative replacing legacy solutions like Oracle Hyperion, IBM Cognos and Excel.
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