PLAN - With Growth Slowing Is Anaplan Stock Still a Buy?
Another quarter of growth at Anaplan (NYSE: PLAN) got overshadowed by the disaster that has been 2020. The connected planning software company actually topped its own expectations for the first period in its 2021 fiscal year (the three months ended April 30, 2020). But new deals are getting put on hold as organizations sort through the new normal being created by the pandemic crisis, and Anaplan pulled the plug on its full-year guidance amid the uncertainty.
Nevertheless, while shares have rallied from the last time I caught up with Anaplan in early March, the stock remains some 30% below its all-time highs, which were set right before the wheels started coming off the global economy. Growth may be decelerating this year, but shares look like a decent value for the potential this cloud-based planning software pioneer has.
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