Manhattan Associates, Inc. (MANH - Snapshot Report) just spiked into a new all-time high after reporting another great quarter that came in ahead of expectations. With an average earnings surprise of 26% over the last four quarters, this Zacks #1 Rank stock is a great pick for momentum out of the technology sector.
Manhattan Associates, Inc. develops and supports supply chain software for global supply chain activities. The company was founded in 1995 and has a market cap of $860 million.
Although MANH has been having a great year, shares recently jumped into a new all-time high after the company reported strong Q3 results that came in ahead of expectations.
Revenue for the period was up 16% from last year to $86 million. Earnings also came in strong at 59 cents, 37% ahead of the Zacks Consensus Estimate, where the company has an average earnings surprise of 26% over the last four quarters.
The company noted that it sold three $1 million contracts during the quarter.
With cash and short-term investments of $101 million and no long-term debt, MANH will continue to benefit from its strong financial profile.
We've already seen some bullish movement in estimates off the good quarter, with the current-year estimate up 21 cents to $1.91. The next-year estimate is pegged at $2.07, a solid 8% growth projection.
With a PEG ratio of 2.68, MANH trades at a premium to the benchmark of 1 for value.
On the chart, shares jumped into a new all-time high on the good quarter, take a look below.
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Whisper Trader Service.