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Anaplan Stock Skyrockets After Earnings Beats Estimates

Sam Boughedda
Sam Boughedda trader
Updated 26 Aug 2020

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Shares of software maker Anaplan (NYSE:PLAN) have surged higher on Wednesday after the company’s earnings and revenue for the second quarter topped analysts estimates.

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In the company’s earnings report it stated that it lost 4 cents a share vs last year’s 12 cents per share loss during the same period, after analysts had predicted another 12 cents per share loss.

Anaplan’s second-quarter revenue came in at $106.5 million, representing a 26% rise from the same period last year.

Anaplan’s share price…

After its Q2 earnings report was made public, shares in Anaplan skyrocketed, trading as high as $62.37. They are currently trading at $61.48, a 28.57% rise so far on Wednesday.

Looking ahead, the company stated that its total revenue is expected to be between $109 and $110 million for its third-quarter fiscal 2021, with revenue for the full-year fiscal 2021 expected between $437 and $439 million.

“Businesses need an agile digital connected planning platform in today’s challenging environment. We are at the forefront of offering real-time, valuable business performance insights, providing a competitive advantage to our customers,” said Chief Executive Officer at Anaplan, Frank Calderoni.

“I’m pleased with our progress this quarter, and we are confident in the long-term market opportunity for Connected Planning.”

Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.