Manhattan Associates (NASDAQ:MANH) Updates FY24 Earnings Guidance

Manhattan Associates (NASDAQ:MANH) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $4.22-4.30 for the period, compared to the consensus EPS estimate of $3.91. The company issued revenue guidance of $1.036-1.044 billion, compared to the consensus revenue estimate of $1.03 billion. Manhattan Associates also updated its FY 2024 guidance to 4.220-4.300 EPS.

Analysts Set New Price Targets

Several research firms recently weighed in on MANH. Rosenblatt Securities reissued a neutral rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. Citigroup lifted their target price on Manhattan Associates from $220.00 to $257.00 and gave the stock a neutral rating in a report on Friday, June 28th. StockNews.com raised Manhattan Associates from a hold rating to a buy rating in a report on Wednesday. Loop Capital lifted their target price on Manhattan Associates from $250.00 to $265.00 and gave the stock a buy rating in a report on Wednesday. Finally, DA Davidson lifted their price objective on Manhattan Associates from $260.00 to $285.00 and gave the stock a buy rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $257.43.

Manhattan Associates Stock Up 2.1 %

MANH stock traded up $5.29 during mid-day trading on Thursday, reaching $255.12. 289,810 shares of the company traded hands, compared to its average volume of 418,907. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 81.64 and a beta of 1.50. Manhattan Associates has a fifty-two week low of $182.97 and a fifty-two week high of $266.94. The firm’s 50 day moving average price is $232.35 and its 200 day moving average price is $233.98.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating the consensus estimate of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.36% and a net margin of 20.54%. The business had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. Manhattan Associates’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts anticipate that Manhattan Associates will post 2.72 EPS for the current fiscal year.

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.