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Should You Buy the Post Earnings Dip in Anaplan?

Stock MarketsNov 29, 2021 01:31PM ET
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© Reuters. Should You Buy the Post Earnings Dip in Anaplan?

Anaplan’s (PLAN) share price has slumped despite the company reporting better-than-expected quarterly sales. Concerns over the company’s sluggish growth in billings overshadowed the positivity related to its top-line growth. So, given the company’s lofty valuation, is it worth buying the dip in PLAN? Keep reading to learn our view.San Francisco-based Anaplan , Inc. (NYSE:PLAN) provides a cloud-based connected planning platform to connect organizations and people. Shares of PLAN tumbled almost 20% in price on November 24, despite the company reporting better-than-expected quarterly sales. Furthermore, PLAN has declined 34.1% in price over the past month and 22.8% over the past five days to close its last trading session at $43.12. The stock is currently trading below its 50-day and 200-day moving averages and near its 52-week low of $40.13.

For its fiscal third quarter, ended October 31, PLAN’s revenues increased 35.2% year-over-year to $155.35 million, topping consensus estimates by 6.2%. The company also raised its revenue guidance for the fiscal year. The company now expects its total revenues to be in the range of $583.5 to $584.5 million. However, the main reason for the share-price decline is the company’s heavy losses. Its non-GAAP net loss came in at $7.31 million, while its non-GAAP loss per share was $0.05. Moreover, investors are concerned about PLAN’s sluggish growth in billings.

PLAN has been investing in advancements to gain a competitive edge. It recently introduced its next-generation Anaplan Polaris™ Calculation Engine to help businesses model, analyze, and solve the global complexities impacting their performance and operations more effectively. Also, PLAN and Amazon (NASDAQ:AMZN) Web Services, Inc (AWS) have collaborated to combine market-leading innovation with powerful planning intelligence and deliver innovation and more robust solutions in the market. These strategic plays should support PLAN’s long-term growth.

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Should You Buy the Post Earnings Dip in Anaplan?
 

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