Anaplan indicated down 9% despite beating Q2 estimates and raising guidance
8:21 AM ET 8/27/19 | Briefing.com
Second quarter revenue grew 48% to $84.5 mln vs. $77.5-78.5 mln guidance and the non-GAAP operating margin improved nearly 10 percentage points to (19.7%) vs. (26.5-25.5%) guidance.
The company guided Q3 above consensus, calling for 39% revenue growth. Management also raised FY20 revenue by almost 4% to 42% growth and raised its operating margin forecast to (20.5-19.5%) from (23.5-22.5%).
Still, the stock is indicated down 8% premarket. At least initially, it appears expectations were too high for a stock that was trading at 20x forward sales.