Stock Alert: What Drives The Shares Of Anaplan?

(RTTNews) - Shares of Anaplan, Inc. (PLAN), a web-based enterprise platform for business planning, almost doubled in one year from its IPO price of $27.74 as of December 17, 2018. On Friday the stock closed at $51.79, up 2.68%.

A study "Total Economic Impact (TEI)", conducted recently by Forrester Consulting, said companies can benefit 324 percent return on investment over a period of three years by deploying the Anaplan platform. In October, Anaplan was ranked among the fastest-growing companies on Deloitte's 2019 technology Fast 500.

Last month, the company reported better-than-expected earnings results for the third quarter by narrowing its adjusted loss to $0.08 per share compared with loss of $0.18 per share in the same quarter a year ago. Analysts were expecting a loss of $0.12 per share.

Net loss in the third quarter narrowed to $34.7 million or $0.26 per share from $51.23 million or $1.11 per share in the corresponding quarter last year.

Total revenue increased 44% year-over-year to $89.4 million. This was helped by a 47% increase in subscription revenue from last year to $79.7 million.

Looking forward to fourth quarter, the company expects revenue in the range of $96.5 and $97.5 million compared with analyst's estimate of $97.15 million. Revenue during the corresponding quarter last year was $69.25 million.

The company now revised up full-year revenue guidance to $346-$347 million, from the previous guidance of $339 - $343 million. This compares with the consensus estimate of $346.94 million. Revenue for the last fiscal was registered at $240.64 million.