On July 30, Manhattan Associates fell 5.09% in regular trading, trading at $192.58/share, with turnover of $55.08 million. The decline came one session after the stock surged approximately 25% following a strong Q2 earnings release, with broader application software sector weakness adding downward pressure.
The prior session, Manhattan Associates reported Q2 adjusted EPS of $1.39, beating the consensus estimate of $1.32 by 5.3%, on revenue of $297.8 million versus the $287.7 million expected — marking the second consecutive quarter of significant outperformance. The company also raised full-year revenue guidance to $1.16–$1.17 billion, above the $1.15 billion consensus, and projected adjusted EPS of $5.44–$5.50 versus expectations of $5.37. Loop Capital upgraded the stock from Hold to Buy with a $215 target. Despite these positive fundamentals, the stock gave back a portion of its gains amid sector-wide selling, with Salesforce down 5.9%, Adobe down 6.97%, and Intuit down 7.86%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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