After Selling Off Double Digits, Anaplan Stock Is Worth a Serious Look
Between fears related to the novel coronavirus outbreak and an end-of-year report that showed growth may be slowing, shares of Anaplan (NYSE: PLAN) have taken a beating the last couple of weeks. Currently, shares of the high-growth software company are down nearly 34% from all-time highs.
However, there was still plenty to like about the final report card of the company's 2020 fiscal year (12 months ended Jan. 31, 2020). Total revenue in the fourth quarter was up 42%, and operating losses are expected to start narrowing from here on out. Shares are still going for a premium but are worth another look post-sell-off.
Anaplan's first year as a public company was a big success. Sales increased at a torrid rate, driven by subscriptions to its cloud-based connected planning and AI-powered prediction software tools. Customers that spend at least $250,000 a year increased to 353 compared with 248 at the end of last year; dollar-based net expansion was 122%, implying that existing customers spent an average of 22% more on Anaplan's software suite than the year prior.
Source Fool.com
