Manhattan Associates skyrockets 28% after bumper results, upgraded guidance
Manhattan Associates has recorded an earnings surprise and raised its guidance. The earnings report showed a Non-GAAP EPS of $1.39, exceeding expectations by $0.07, and revenue also came in at $297.79M, surpassing estimates by $10.04M, attracting market attention.
Following the earnings announcement, the stock has shown explosive upward momentum, prompting consideration for entry. On July 29, the stock price surged from $195.0 to $215.0, demonstrating strong momentum, supported by the positive news of an upward guidance alongside the earnings report. However, the closing price on July 30 was somewhat lower at $190.97, indicating the need to monitor the movement around the support level near $200.
After breaking through the intraday resistance, I aim for additional gains and will take profits at $230.0. Conversely, if the support level of $200 fails and a correction occurs, I will cut losses at $195.0. Given that the current stock price has surged, we must consider the possibility of a correction in the overbought range.
As past similar cases, on July 31, 2026, BHC recorded returns of 28.8% and 28.7% due to an upward guidance announcement, and MSFT recorded a return of 15.5% due to strong earnings performance.