Piper Sandler analyst Brent Bracelin lowered the firm's price target on Anaplan to $56 from $60 and keeps an Overweight rating on the shares. Sales disruptions in the Americas and the departure of Chief Growth Officer Mark Anderson has elevated the execution risk profile for Anaplan following this morning's "mixed" Q4 results, Bracelin tells investors in a post-earnings research note. While the management turnover is a concern, the analyst continues to view the company as a "high-quality franchise with high-quality customers and differentiated cloud software." Bracelin recommends looking to use the stock selloff to add to positions.