Anaplan Inc (PLAN), PVH Corp (PVH) stocks jump on Q2 results, outlook

Stocks of Anaplan, Inc. (NYSE: PLAN) and PVH Corp. (NYSE: PVH) jumped over 15 percent and 10 percent, respectively, on Wednesday morning, a day after robust quarterly earnings reports.

PLAN stock was trading at US$69.20, up 15.37%, at 9:10 am ET, while PVH stock was priced at US$115.54, an increase of 10.26% from the previous close, at 9:11 am ET.

Here we discuss the recent performance of the two companies.

Anaplan, Inc.

Anaplan is a technology company headquartered in San Francisco, California. It provides a cloud-based planning and performance management platform for businesses.

The company has a market cap of US$8.7 billion. The stock soared a day after the company declared a 35.5% revenue growth YoY in Q2.

In the second quarter ended July 31, Anaplan reported revenue of US$144.3 million compared to US$106.5 million in the same period a year ago.

The net loss was US$51.1 million or US$0.35 per diluted share, compared to a net loss of US$35.5 million or US$0.26 per diluted share in the July quarter of 2020.

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The company also has revised its revenue guidance for Q3 and the fiscal year 2022. It expects the revenue to be between US$145.5 million and US$146.5 million in Q3 and between US$571.5 and US$573.5 million in FY 2022.

Its liquidity reserves were US$312.9 million. The company has more than 1600 customers, over 175 partners, and 1900+ employees.

The stock fell around 2% in the previous session before rising nearly 16% in the pre-market on Wednesday. Its 52-week highest and lowest prices were US$86.17 and US$46.00, respectively.

The stock fell 4.36% YTD.

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PVH Corp.

This New York-headquartered apparel company operates globally. The company raised its revenue outlook after the Q2 results. The stock went up over 10% on Wednesday morning.

The apparel company’s revenue in Q2 ended Aug 1, 2021, was US$2.313 billion, a 46% increase YoY. The net income was US$181.9 million or US$2.51 per share diluted, compared to a net loss of US$51.4 million or US$0.72 per share diluted in the previous year’s corresponding quarter.

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The company expects its full-year 2021 revenue to increase by 26% to 28% compared to figures in FY 2020. It expects its non-GAAP EPS to be US$8.50 against a net loss of US$1.97 per share in 2020.

The company’s liquidity reserves were US$1.15 billion as of Aug 1, 2021.

PVH has a market capitalization of US$7.48 billion and a P/E ratio of 25.81. Its 52-week highest and lowest stock prices were US$121.17 and US$54.12, respectively.

The PVH stock gave nearly 26% return YTD.

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Bottomline

The companies’ strong quarterly results indicate the improving business environment after the pandemic restrictions. Analysts expect the overall businesses environment in the US would continue to improve with the elimination of the delta virus threat.