Manhattan Associates (NASDAQ:MANH) Issues 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 3.860-3.940 for the period, compared to the consensus EPS 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.

Manhattan Associates Trading Up 1.0 %

Shares of MANH opened at $230.63 on Wednesday. The firm’s 50-day moving average is $245.97 and its two-hundred day moving average is $227.06. Manhattan Associates has a twelve month low of $152.32 and a twelve month high of $266.94. The firm has a market capitalization of $14.20 billion, a P/E ratio of 81.78 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. The company had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. Analysts predict that Manhattan Associates will post 2.78 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MANH shares. Citigroup started coverage on shares of Manhattan Associates in a research report on Wednesday, March 13th. They set a neutral rating and a $260.00 target price on the stock. Rosenblatt Securities reiterated a neutral rating and issued a $225.00 price target on shares of Manhattan Associates in a research report on Monday, April 15th. Raymond James increased their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an outperform rating in a research report on Wednesday, January 31st. Finally, Truist Financial increased their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $231.29.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 680 shares of the firm’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 transaction of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP James Stewart Gantt sold 680 shares of the firm’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 transaction of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, 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 company insiders.

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.