Movement Alert|Manhattan Associates Intraday Rise 25.93%, Q2 Earnings Beat and Full-Year Guidance Raise Spark Rally

Market Focus07-29

On July 29, Manhattan Associates surged 25.93% in regular trading, trading at $210.46/share, with turnover of $58.93 million. The stock rallied sharply following a strong Q2 earnings report and upgraded full-year guidance.

The company reported Q2 adjusted EPS of $1.39, beating the consensus estimate of $1.32 by 5.3% and rising 6.11% year-over-year. Revenue reached $297.8 million, exceeding the $287.9 million estimate by 3.4%. This marks the second consecutive quarter of significant beats, following a 10.71% EPS surprise in Q1. Management raised full-year revenue guidance to $1.16-$1.17 billion versus the $1.15 billion consensus, and adjusted EPS guidance to $5.44-$5.50 versus $5.37 expected.

Adding momentum, Loop Capital upgraded the stock to Buy from Hold with a price target of $215, up from $150. Management expressed confidence in business momentum despite global macro volatility, citing cloud subscription-driven profitability improvements. The company had also previously announced a 6% workforce reduction and expanded its share buyback program to $500 million, reinforcing long-term shareholder value.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment