Why Manhattan Associates Stock Plunged This Week
Shares of Manhattan Associates (NASDAQ: MANH) dove roughly 25% this week as of 4 p.m. ET Thursday, according to data provided by S&P Global Market Intelligence.
Manhattan is a leading software solutions provider for supply chain, inventory, and omnichannel operations, working alongside its retail, manufacturing, or logistics customers. While the company has been an incredible 120-bagger since 2000, its fourth-quarter earnings report announced earlier this week left much to be desired.
Heading into Q4 earnings, Manhattan was trading at 63 times free cash flow (FCF) and had grown its sales by an average of 16% over the last three years. Simply put, it was priced to deliver perfect results once again.
Source Fool.com
