Manhattan Associates (NASDAQ:MANH) Issues Earnings Results, Beats Expectations By $0.22 EPS

Manhattan Associates (NASDAQ:MANH) released its quarterly earnings data on Tuesday. The software maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22, Briefing.com reports. The business had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. Manhattan Associates had a return on equity of 84.36% and a net margin of 20.54%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share. Manhattan Associates updated its FY24 guidance to $4.22-4.30 EPS and its FY 2024 guidance to 4.220-4.300 EPS.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock traded down $2.96 during trading hours on Thursday, hitting $246.87. The company’s stock had a trading volume of 1,080,050 shares, compared to its average volume of 424,472. Manhattan Associates has a 12 month low of $182.97 and a 12 month high of $266.94. The stock has a 50 day moving average of $232.35 and a 200 day moving average of $233.98. The company has a market capitalization of $15.20 billion, a PE ratio of 81.64 and a beta of 1.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MANH shares. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. Citigroup upped their price objective on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. DA Davidson upped their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday. Finally, StockNews.com upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $257.43.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.