Manhattan Associates Analysts Boost Their Forecasts Following Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Manhattan Associates, Inc. (NASDAQ:MANH) exceeded Q4 earnings and revenue expectations, with adjusted earnings of $1.03 per share against estimates of 80 cents, and sales of $238.25 million versus expected $223.97 million. The company's shares surged 10.8% in pre-market trading. Analysts at Rosenblatt and Raymond James raised their price targets for MANH, maintaining a Neutral and an Outperform rating respectively.
January 31, 2024 | 1:59 pm
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POSITIVE IMPACT
Manhattan Associates reported strong Q4 results, surpassing earnings and revenue estimates, which led to a significant pre-market stock price increase and raised price targets from analysts.
The positive earnings report and subsequent increase in analyst price targets are strong indicators of investor confidence and potential continued short-term price appreciation for MANH. The pre-market stock price jump reflects immediate market reaction, suggesting a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100