Manhattan Associates Outperforms the Computer and Technology Sector

A closer look at Manhattan Associates’ impressive year-to-date performance

Investors in the Computer and Technology sector are always on the lookout for top-performing companies. One such company, Manhattan Associates (MANH), has been making waves with its strong performance this year. By examining its year-to-date performance and comparing it to the rest of the sector, we can determine whether Manhattan Associates is a stock worth considering.

The Strength of the Computer and Technology Sector

Manhattan Associates is part of the Computer and Technology sector, which consists of 624 individual stocks. This sector currently holds a Zacks Sector Rank of #4, indicating its strength compared to other sectors. The Zacks Sector Rank is determined by considering the average Zacks Rank of individual stocks within the sector.

Manhattan Associates’ Zacks Rank

The Zacks Rank is a reliable system that focuses on earnings estimates and revisions, identifying stocks that have the potential to outperform the market in the next one to three months. Manhattan Associates currently holds a Zacks Rank of #2 (Buy), highlighting its positive outlook.

Analyst Sentiment and Earnings Outlook

Over the past 90 days, the Zacks Consensus Estimate for Manhattan Associates’ full-year earnings has risen by 17.7%. This indicates that analysts have a more favorable sentiment towards the stock and expect its earnings to improve.

Manhattan Associates’ Year-to-Date Performance

Year-to-date, Manhattan Associates has delivered a remarkable return of 82.9%. In comparison, the average return for Computer and Technology companies stands at 47%. This demonstrates that Manhattan Associates has outperformed its peers in the sector so far this year.

A Competitor’s Success

Arlo Technologies (ARLO), another Computer and Technology stock, has also outperformed the sector this year. With a year-to-date return of 159.3%, Arlo Technologies has shown impressive growth.

Consensus Estimate and Zacks Rank for Arlo Technologies

The consensus estimate for Arlo Technologies’ current year earnings per share (EPS) has increased by 18.3% over the past three months. The stock currently holds a Zacks Rank #2 (Buy), indicating its positive outlook.

Industry Rankings

Manhattan Associates operates in the Computer – Software industry, which consists of 36 companies and currently holds the #67 rank in the Zacks Industry Rank. Stocks in this industry have gained approximately 55.3% year-to-date, indicating Manhattan Associates’ strong performance within the group.

Arlo Technologies, on the other hand, belongs to the Internet – Software industry, which comprises 147 stocks and currently holds the #38 rank. This industry has seen a year-to-date increase of 55.9%.

Conclusion:

Manhattan Associates has proven to be a standout performer in the Computer and Technology sector this year. With its impressive year-to-date return and positive analyst sentiment, the stock is worth considering for investors interested in this sector. Arlo Technologies also deserves attention for its strong performance and positive outlook. As the year progresses, both companies will be closely watched to see if they can maintain their solid performance.