Supply chain optimization software maker Manhattan Associates (NASDAQ:MANH) will be announcing earnings results tomorrow after the bell. Here's what to expect.

Last quarter Manhattan Associates reported revenues of $238.3 million, up 20.3% year on year, beating analyst revenue expectations by 6.4%. It was a strong quarter for the company, with a solid beat of analysts' revenue estimates and a significant improvement in its gross margin.

Is Manhattan Associates buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Manhattan Associates's revenue to grow 10.1% year on year to $243.3 million, slowing down from the 23.5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.87 per share.

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 7%.

Looking at Manhattan Associates's peers in the software as a service segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. Adobe delivered top-line growth of 11.3% year on year, beating analyst estimates by 0.7% and Paychex reported revenues up 4.2% year on year, missing analyst estimates by 1.2%. Adobe traded down 13.9% on the results, and Paychex was down 1.1%.

Read our full analysis of Adobe's results here and Paychex's results here.

Technology stocks have been hit hard on fears of higher interest rates and while some of the software as a service stocks have fared somewhat better, they have not been spared, with share price declining 9.3% over the last month. Manhattan Associates is down 8.9% during the same time, and is heading into the earnings with analyst price target of $240.7, compared to share price of $226.3.

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