Manhattan Associates at Citi conference: cloud, AI and growth

Manhattan Associates, a leading provider of supply chain software solutions, recently highlighted its strategic shift towards cloud software, AI, and broader market coverage at the Citi's 2026 Global TMT Conference. The company reported strong bookings and early adoption of AI, despite a modest growth rate in services and a slightly overvalued stock price.

With cloud revenue already growing at a rate of more than 20% in the first half of the year and projected to surpass services revenue by the second half of 2024, Manhattan Associates appears well-positioned for continued growth. The company's focus on conversions of on-premises customers to cloud solutions, along with the introduction of agentic AI products, has contributed to its impressive Q2 performance, which included record bookings.

Despite a 0.63% decline in stock price, Manhattan Associates remains on track for double-digit top-line growth and top-quartile SaaS operating margins.

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