Why Anaplan's Stock Is Trading Higher

Anaplan Inc PLAN shares are trading higher on Wednesday.

Mizuho maintained its Buy rating on the stock and raised its price target from $40 to $50 per share.

Anaplan is a U.S.-based business performance management company. It offers cloud-based business planning and performance management platform based on a single hub where business users can create and use models. The company also provides professional services, including consulting, implementation, and training.

Anaplan was trading 3.61% higher at $47.92 on Wednesday. The stock has a 52-week high of $63.71 and a 52-week low of $26.04.