Sam Boughedda

Investing.com — Anaplan Inc’s (NYSE:) stock hit a high of $54 Thursday and was still up nearly 8%, to $50 on Thursday afternoon, after the company posted fourth-quarter and full-year earnings Wednesday after the close.

Analysts predicted that the provider of cloud-native platforms would generate $154.7 million in revenues. However, revenue was reported at $162.7 million, exceeding all predictions. 

Due to an increase in subscription revenues, the number represents 32.8% revenue growth year-over-year in fourth quarter. Revenue from subscriptions accounted for the largest portion of this number at $148million, an increase of 31.5% year over year.

However, the bottom line was disappointing with an 11c loss per share. Investing.com polled analysts and forecast a loss of 10 cents per share.

Full-year revenues of $592.2million were up 32.3% over the previous year. Earnings per share was $0.35.

Frank Calderoni is Anaplan’s Chief Executive Officer. He said that Anaplan was proud to have delivered a strong fourth-quarter and ended the year with nearly 1,900 customers. We are confident in our ability to execute on the growth strategies and innovate at the highest level as we begin the fiscal year.

The first quarter revenue was estimated at $164.5 to $165.5 Million.

The report is available here Wells Fargo (NYSE:) Analyst Michael Turrin has increased Anaplan’s price target to $55 instead of $49. He told investors in a note, that Anaplan’s financial results had been better than expected and raised its price target. Turrin however warned against macro volatility.