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 4.600-4.620 for the period, compared to the consensus estimate of 4.290. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Manhattan Associates also updated its FY24 guidance to $4.60-4.62 EPS.

Manhattan Associates Trading Down 1.1 %

Shares of MANH stock traded down $3.22 during trading hours on Tuesday, hitting $292.32. The company’s stock had a trading volume of 757,898 shares, compared to its average volume of 411,432. The business has a fifty day moving average of $272.92 and a 200-day moving average of $246.07. Manhattan Associates has a twelve month low of $182.97 and a twelve month high of $307.50. The stock has a market cap of $18.00 billion, a price-to-earnings ratio of 96.08 and a beta of 1.50.

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

Analyst Ratings Changes

A number of research firms have issued reports on MANH. Citigroup upped their target price 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. DA Davidson upped their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Robert W. Baird lifted 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. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Loop Capital lifted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and an average price target of $275.75.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 46,287 shares in the company, valued at $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.