Stock Alert: Anaplan Rises On Quarterly Results, Improved Outlook

Shares of Anaplan, Inc. (PLAN) are rising more than 6% on Tuesday morning on better-than-expected third quarter results. The company also raised its full-year revenue outlook.

The stock touched a new high of $69.50 this morning.

Anaplan provided planning and performance management platform for smart businesses.

Loss per share in the third quarter was $0.26, flat compared to the third quarter of last year.

On an adjusted basis loss per share was 0.05 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.1 loss per share.

Total revenue for the quarter was $114.9 million, an increase of 28% year-over-year. The consensus estimate was for $109.74 million.

For the fourth-quarter, total revenue is expected to be between $118.5 and $119.5 million. Analysts see earnings of $118.42 million for the period.

The company has raised its full-year outlook to the range of $444 to $445 million from $437 million to $439 million provided earlier. The consensus estimate stands at $438.63 million.

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