Manhattan Associates (MANH) Delivers Record Q2 on Robust Cloud Growth

Manhattan Associates, Inc. (NASDAQ:MANH) is one of the top tech stocks with a strong return on equity. On July 22, the company delivered record second-quarter results, characterized by 22% cloud revenue growth, as the Remaining Performance Obligation (RPO) surpassed the $2 billion mark.

The robust cloud revenue growth came on the company carving out a niche as a preferred choice for modern supply chain commerce solutions. Manhattan Associates delivered non-GAAP diluted earnings per share of $1.31 compared to $1.18 in the second quarter of 2024.

Consolidated revenue rose to $272.4 million compared to $265.3 million delivered in the same quarter. Cloud subscription revenue in the quarter was $100.4 million to $82.4 million last year.

Manhattan Associates has raised its full-year guidance and now expects adjusted EPS to be between $4.76 and $4.84, above the analyst consensus of $4.60. It also expects revenue of between $1.071 billion and $1.075 billion, which is better than the $1.063 billion that analysts expect.

Manhattan Associates, Inc. (NASDAQ:MANH) is a technology company that develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers a warehouse management solution for managing goods and information across the distribution centers.

While we acknowledge the potential of MANH to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MANH and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.