Supply chain software provider Manhattan Associates (NASDAQ: MANH) will be reporting earnings this Tuesday after the bell. Here’s what to expect.
Manhattan Associates beat analysts’ revenue expectations last quarter, reporting revenues of $282.2 million, up 7.4% year on year. It was a strong quarter for the company, with full-year EPS guidance beating analysts’ expectations and full-year revenue guidance slightly topping analysts’ expectations.
Is Manhattan Associates a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Manhattan Associates’s revenue to grow 5.6% year on year, improving from the 2.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Manhattan Associates has a history of exceeding Wall Street’s expectations.
Looking at Manhattan Associates’s peers in the software-as-a-service segment, some have already reported their Q2 results, giving us a hint as to what we can expect. ServiceNow delivered year-on-year revenue growth of 24%, beating analysts’ expectations by 1.6%, and RingCentral reported revenues up 5.9%, topping estimates by 1%. ServiceNow traded down 3.7% following the results while RingCentral was up 25.1%.
Read our full analysis of ServiceNow’s results here and RingCentral’s results here.
There has been positive sentiment among investors in the software-as-a-service segment, with share prices up 2.1% on average over the last month. Manhattan Associates is up 9.8% during the same time and is heading into earnings with an average analyst price target of $185.45 (compared to the current share price of $151.67).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
