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Why Anaplan Stock Is Soaring Today

TheMotleyFool

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Why Anaplan Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Cloud computing provider, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/8d7b6619-8b3b-4e9e-b659-68643d72528e.png

Shares of Anaplan (NYSE: PLAN) rose as much as 17.1% on Wednesday morning, driven by an impressive second-quarter earnings report. By 1 p.m. EDT, the provider of cloud-based business planning tools had seen its stock calm down to a 12% gain.

Anaplan's second-quarter sales rose 35% year over year to $144.3 million. On the bottom line, net losses widened from $0.04 to $0.09 per share. Your average analyst would have settled for a $0.14 loss per share on revenue near $134 million. The company also issued revenue guidance well above the current analyst views for the third quarter and the full year.

Image source: Getty Images.

Source Fool.com

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