Supply chain optimization software maker Manhattan Associates (NASDAQ:MANH) will be reporting earnings tomorrow after market close. Here's what you need to know.
Last quarter Manhattan Associates reported revenues of $231 million, up 20.4% year on year, beating analyst revenue expectations by 6.62%. It was a very strong quarter for the company, with a solid beat of analysts' revenue estimates and full-year revenue guidance exceeding analysts' expectations.
Is Manhattan Associates buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Manhattan Associates's revenue to grow 14.2% year on year to $226.3 million, slowing down from the 17.1% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.76 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 6.61%.
Looking at Manhattan Associates's peers in the software as a service segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Adobe (NASDAQ:ADBE) reported revenues up 10.3% year on year, exceeding estimates by 0.47%. Adobe was flat on the results.
Read the full analysis of Adobe's results on StockStory.
The fears around raising interest rates have been putting pressure on tech stocks and while some of the software as a service stocks have fared somewhat better, they have not been spared, with share price declining 3.91% over the last month. Manhattan Associates is up 0.47% during the same time, and is heading into the earnings with analysts' price target of $203.2, compared to share price of $196.9.
The author has no position in any of the stocks mentioned.