NEW YORK, NY / ACCESSWIRE / October 15, 2018 / Both Smartsheet Inc. and ANAPLAN Inc. were big gainers in Friday’s session. While Smartsheets did not have any major news to explain the jump in share price, ANAPLAN made its market debut on Friday.
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Smartsheet Inc. shares were up 14.40% this past Friday on about 1.1 million shares traded. There was no news to explain the stock's pop in share price and uptick in trading volume. It was earlier this month that the cloud-based platform for work execution, wrapped up its ENGAGE’18 global customer conference in Bellevue, Washington. Over 2,000 people representing 1,100 different organizations from all 50 states and 20 countries attended the sold-out event. Speakers from more than 50 customers including Cisco, SAP, CTE, McAfee, PayPal, Fortune Brands, Nordstrom, Roche Diagnostics, and Office Depot shared how they use Smartsheet. CEO Mark Mader commented, "Customers choose Smartsheet because they know that we’re as committed to their success, the success of their teams, and the overall success of their business as they are. I want to thank the more than 2,000 of them who made this week a huge success, and I hope they leave us feeling more empowered than ever to drive change and make a difference in their organizations.”
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ANAPLAN, INC. shares closed up nearly 43% on their first day of trading the market on Friday. The software company's big moves on Friday led to a market cap of nearly $3 billion. CEO Frank Calderoni had told CNBC's "Squawk Alley" that the company did not consider delaying the IPO given how the market had been reacting last week. The NASDAQ had recently seen its lowest close since this past May. Anaplan has almost 1,000 customers including VMware and Coca Cola. "I was really looking at the future of Anaplan and how that can be positioned," explained Calderoni. The CEO had briefly been interim CFO until Dave Morton took his place. Morton had been at Tesla for a few weeks. "Connected Planning enables dynamic, collaborative, and intelligent planning across all areas of an organization, including finance, sales, and supply chain, and other corporate functions such as marketing, human resources, and operations," Anaplan said in its prospectus.
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