Truist on Manhattan Associates (MANH): 'Another Record Bookings Qt'

Truist Securities analyst Terry Tillman reiterated a Buy rating and $240.00 price target on Manhattan Associates (NASDAQ: MANH).

The analyst commented: "Another Record Bookings Qtr; Cloud Rev Accelerates; Manhattan reported a strong 2Q that included record cloud bookings for the 3rd consecutive qtr, accelerating cloud sub rev growth of 26% y/y, the introduction of Active Editions which expands the company's TAM, & another qtr of healthy RPO growth with a $126M net add, solidly above ours & the Street's ests. Mgmt raised FY rev, cloud rev, op margin, and EPS guidance while reiterating confidence in RPO finishing toward the high end of its 18-20% growth target, underscoring what we believe is continued momentum across the business. Reiterate Buy & $240 PT as we are incrementally confident in Manhattan's execution, sustained cloud momentum, and evolving AI product oppty."

For an analyst ratings summary and ratings history on Manhattan Associates click here. For more ratings news on Manhattan Associates click here.

Shares of Manhattan Associates closed at $168.17 yesterday.

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