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 EPS guidance of 4.600-4.620 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Truist Financial lifted their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup raised their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, DA Davidson increased their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have issued 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 $286.38.

Manhattan Associates Stock Down 0.1 %

Shares of Manhattan Associates stock traded down $0.36 on Thursday, hitting $271.00. 123,759 shares of the company traded hands, compared to its average volume of 415,070. Manhattan Associates has a 12-month low of $182.97 and a 12-month high of $307.50. The company has a 50-day moving average price of $274.18 and a 200 day moving average price of $246.59. The company has a market cap of $16.69 billion, a PE ratio of 88.68 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. Equities research analysts anticipate that Manhattan Associates will post 3.01 EPS for the current year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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.