Thesis
Anaplan is a durable business that is riding major tailwinds in the business planning software space. Anaplan was viewed as a darling of the SaaS peer group in 2019, but a billings miss in FY Q4'20 and departure of the chief Growth Officer Mark Anderson has re-rated the stock.
A key management hire gives me confidence in the ability of Anaplan to re-rate back to previous highs, and to realign the growth team to achieve long-term growth with an excellent product.
Source: Anaplan website
Billings Miss
Anaplan missed its recent Q4 numbers after riding