Anaplan Shares Drop as Morgan Stanley Downgrades the Stock

A view of the exterior of The Morgan Stanley Headquarters at 1585 Broadway in Times Square in New York City on July 2021. Michael Lawrence/Getty Images for Morgan Stanley

Morgan Stanleyanalyst Stan Zlotsky downgraded Anaplan Inc. from Overweight to Equal-Weight and lowered the price target from $73 to $55, implying a 24 percent upside.

Zlotsky conducted another round of channel checks after the company’s Q3 earnings report, and the mixed checks suggest recent results “could be indicative of more prolonged challenges.”