Manhattan Associates (NASDAQ:MANH) Releases FY 2024 Earnings Guidance

Manhattan Associates (NASDAQ:MANH) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 3.860-3.940 for the period, compared to the consensus estimate of 3.770. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion.

Analyst Ratings Changes

A number of equities research analysts have commented on MANH shares. Rosenblatt Securities restated a neutral rating and set a $225.00 target price on shares of Manhattan Associates in a research note on Monday, April 15th. Truist Financial raised their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Citigroup started coverage on shares of Manhattan Associates in a research note on Wednesday, March 13th. They set a neutral rating and a $260.00 target price on the stock. Finally, Raymond James raised their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates has an average rating of Moderate Buy and an average price target of $231.29.

Manhattan Associates Stock Up 1.0 %

Shares of MANH stock traded up $2.31 on Tuesday, hitting $230.63. The stock had a trading volume of 537,316 shares, compared to its average volume of 370,145. The business has a 50 day moving average price of $245.97 and a 200 day moving average price of $227.06. The company has a market cap of $14.20 billion, a PE ratio of 81.78 and a beta of 1.44. Manhattan Associates has a one year low of $152.32 and a one year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.23. The firm had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. Equities research analysts expect that Manhattan Associates will post 2.78 EPS for the current year.

Insider Transactions at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the transaction, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. 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.