Anaplan Shares Dropped 15% Following Q3 Results
<p><a href='https://financialmodelingprep.com/financial-summary/PLAN'>Anaplan, Inc. (NYSE:PLAN) </a>shares closed more than 15% lower on Wednesday following the company’s reported Q3 results, with adjusted EPS coming in at ($0.05), beating the consensus estimate by 54.6%. The reason for that significant stock price decline was the year-over-year slowdown of the company’s calculated billings, which were up just 26% to $182.5 million in Q3, compared to more than 30% in the previous quarters.</p>
<p>Analysts at Berenberg Bank believe that investors’ reaction is unwarranted for three reasons: </p>
<p>(1) there is an FX impact to Q3 and 2023 preliminary guidance,</p>
<p>(2) billings are notoriously lumpy - large deals have much longer sales cycles (6-12 months),</p>
<p>(3) most customer metrics are at a two-year record and imply demand is as strong as ever. </p>

NYSE:PLAN