Supply chain software provider Manhattan Associates (NASDAQ: MANH) will be reporting earnings this Tuesday after the bell. Here’s what you need to know.
Manhattan Associates beat analysts’ revenue expectations last quarter, reporting revenues of $297.8 million, up 9.3% year on year. It was a very strong quarter for the company, with full-year EPS guidance beating analysts’ expectations and a solid beat of analysts’ adjusted operating income estimates.
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 7.6% year on year, improving from the 3.4% 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 Q3 results, giving us a hint as to what we can expect. RingCentral delivered year-on-year revenue growth of 5.9%, beating analysts’ expectations by 1.3%, and Paychex reported revenues up 5.9%, in line with consensus estimates. RingCentral traded up 5% following the results while Paychex was down 11.3%.
Read our full analysis of RingCentral’s results here and Paychex’s results here.
There has been positive sentiment among investors in the software-as-a-service segment, with share prices up 14% on average over the last month. Manhattan Associates is up 18% during the same time and is heading into earnings with an average analyst price target of $235.90 (compared to the current share price of $238.30).
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