Manhattan Associates (NASDAQ:MANH) Updates FY24 Earnings Guidance

Manhattan Associates (NASDAQ:MANH) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.60-4.62 for the period, compared to the consensus 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 Stock Performance

NASDAQ:MANH traded down $3.10 during trading hours on Tuesday, hitting $292.44. The stock had a trading volume of 617,066 shares, compared to its average volume of 410,742. Manhattan Associates has a one year low of $182.97 and a one year high of $307.50. The company has a market cap of $18.01 billion, a price-to-earnings ratio of 96.08 and a beta of 1.50. The business’s 50 day moving average is $272.92 and its 200-day moving average is $246.07.

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

Analyst Ratings Changes

A number of analysts have commented on MANH shares. Truist Financial increased their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Loop Capital increased their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. DA Davidson increased their price target 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. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird increased their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $275.75.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates 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 sale, the executive vice president now directly owns 46,287 shares in the company, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

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.