Truist Securities analyst Terry Tillman reiterated a Buy rating and $240.00 price target on Manhattan Associates (NASDAQ: MANH).

The analyst commented: "Another Record Bookings Qtr; Cloud Rev Accelerates; Manhattan reported a strong 2Q that included record cloud bookings for the 3rd consecutive qtr, accelerating cloud sub rev growth of 26% y/y, the introduction of Active Editions which expands the company's TAM, & another qtr of healthy RPO growth with a $126M net add, solidly above ours & the Street's ests. Mgmt raised FY rev, cloud rev, op margin, and EPS guidance while reiterating confidence in RPO finishing toward the high end of its 18-20% growth target, underscoring what we believe is continued momentum across the business. Reiterate Buy & $240 PT as we are incrementally confident in Manhattan's execution, sustained cloud momentum, and evolving AI product oppty."

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Shares of Manhattan Associates closed at $168.17 yesterday.