Why Anaplan Shares Are Soaring Today

Shares of Anaplan (NYSE: PLAN) soared as much as 30.4% higher on Wednesday morning, following a strong second-quarter earnings report.

Anaplan's sales rose 26% year over year to $106.5 million. Adjusted bottom-line losses decreased from $0.12 to $0.04 per diluted share. Your average analyst had expected a net loss of $0.12 per share on revenues near $103.5 million.

The provider of cloud-based business planning tools and services also set a third-quarter revenue target at approximately $110 million, well ahead of the Street consensus at $108 million.

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Source Fool.com