Manhattan Associates (NASDAQ:MANH) Releases FY24 Earnings Guidance

Manhattan Associates (NASDAQ:MANH) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $4.60-4.62 for the period, compared to the consensus EPS estimate of $4.28. The company issued revenue guidance of $1.039-1.041 billion, compared to the consensus revenue estimate of $1.04 billion. Manhattan Associates also updated its FY 2024 guidance to 4.600-4.620 EPS.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MANH. Loop Capital boosted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup boosted their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Robert W. Baird upped their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Truist Financial upped their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and an average price target of $275.75.

Manhattan Associates Stock Performance

NASDAQ MANH traded down $3.22 on Tuesday, reaching $292.32. The company had a trading volume of 736,131 shares, compared to its average volume of 411,325. The company’s fifty day moving average is $272.92 and its 200-day moving average is $246.07. Manhattan Associates has a 1-year low of $182.97 and a 1-year high of $307.50. The firm has a market capitalization of $18.00 billion, a price-to-earnings ratio of 96.08 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. During the same period in the prior year, the business posted $0.63 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts forecast that Manhattan Associates will post 3.01 earnings per share for the current year.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the transaction, the executive vice president now directly owns 46,287 shares in the company, valued at $11,872,615.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Company Profile

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.