PLAN - Anaplan gets put in the 'penalty box' as shares fall more than 20%

Anaplan (NYSE:PLAN) was headed for an un-Happy Thanksgiving when its shares fell more than 20%, Wednesday, as multiple analysts raised concerns about the data-collection software company's earnings results and billings outlook. Late Tuesday, Anaplan (PLAN) said that for its third quarter, its order billings grew by 26% from the same period a year ago. However, that growth rate fell from the 36% year-over-year growth Anaplan (PLAN) saw in its second quarter. The company also said subscription in its fourth quarter could rise by 27% from a year ago, down from the 33% growth it had in its third quarter. Anaplan (PLAN) also said that for its fourth quarter, it expects revenue to be in a range of $154 million to $155 million, and billings of $213 million to $214 million.Those figures led Piper Sandler analyst Brent Bracelin to cut his rating on Anaplan's (PLAN) stock to neutral from overweight, and slash

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Anaplan gets put in the 'penalty box' as shares fall more than 20%