After several quarters of billings growth in the 40s and 50s percentages, Anaplan reported 25% year-over-year billings growth in Q4, Barclays analyst Raimo Lenschow tells investors in a post-earnings research note. The stock in premarket trading is down 27%, or $15.48, to $42.61. The billings deceleration overshadowed an otherwise "healthy" Q4, adds the analyst. He believes that while difficult billings comparisons is certainly be a factor, the departure of the recently hired Chief Growth Officer "hints at deeper issues." Lenschow keeps an Equal Weight rating on Anaplan.