Movement Alert｜Manhattan Associates rises 9.41% in Pre-Market Trading, Q3 beat, raised outlook and a higher price target support sentiment

Market Focus10-28

On October 28, Manhattan Associates rose 9.41% in Pre-Market Trading, trading at $252.5 per share, with turnover of $356,800.

The move followed strong quarterly results, higher full-year guidance, and a fresh analyst target increase. The company reported Q3 adjusted EPS of $1.55 versus the $1.46 consensus, with revenue of $306.2 million versus the expected $297.0 million. It also lifted full-year adjusted EPS guidance to $5.54-$5.56 and revenue guidance to $1.176-$1.178 billion, both modestly above market expectations.

Further supporting sentiment, Truist raised its price target on Manhattan Associates to $305 from $240 while maintaining a Buy rating. The combination of an earnings beat, improved outlook, and a higher target helps explain the stock's outsized gain relative to a mixed Application Software group, where several large peers were down on the day.

(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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