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

Manhattan Associates (NASDAQ:MANH) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.860-3.940 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MANH. DA Davidson raised shares of Manhattan Associates from a neutral rating to a buy rating and boosted their price objective for the company from $220.00 to $240.00 in a research report on Thursday. Rosenblatt Securities reaffirmed a neutral rating and set a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday. Citigroup decreased their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a neutral rating for the company in a research report on Wednesday. Raymond James upped their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a research report on Wednesday, January 31st. Finally, Truist Financial upped their price target 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of Moderate Buy and an average price target of $234.86.

Manhattan Associates Price Performance

MANH stock opened at $208.30 on Friday. Manhattan Associates has a 12 month low of $163.43 and a 12 month high of $266.94. The firm has a market cap of $12.83 billion, a PE ratio of 68.07 and a beta of 1.44. The firm has a 50 day simple moving average of $245.12 and a 200 day simple moving average of $226.92.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.55 by $0.23. The business had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, sell-side analysts expect that Manhattan Associates will post 2.81 earnings per share for the current year.

Insider Activity at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the sale, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

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.