Anaplan (NYSE:PLAN) stock price has fallen roughly 53% from its 52-week high, mostly due to multiple adjustments from the recent market turmoil and the departure of chief growth officer. Despite the big drop in share price, I believe that Anaplan has a strong track record with growing network effects and switching costs. At $29, it is undervalued by roughly 42% based on my base-case assumptions.
(Source: Google)
Anaplan has grown strongly while expanding its addressable market
Anaplan has grown revenue from $71.5M in 2016 to $348M in 2019, compounding at 48% year