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After reporting Q4 earnings in late May, Anaplan (PLAN) has been on a straight shot up, trading nearly 25% higher since. Investors continue to love the name, and Q1 earnings were a testament to why the company has long-term potential and should continue to be valued at a premium multiple.
Revenue for the quarter grew 47% to $75.8 million, which was much higher than consensus expectations for ~37% growth to ~$71 million. The biggest reason for this quarter's outperformance was the company's strength in the subscription revenue, which grew 45% to $65.1 million,