Analysts Set Expectations for Manhattan Associates, Inc.’s Q2 2024 Earnings (NASDAQ:MANH)

Manhattan Associates, Inc. (NASDAQ:MANH) – Equities research analysts at DA Davidson issued their Q2 2024 EPS estimates for Manhattan Associates in a report released on Wednesday, April 24th. DA Davidson analyst G. Luria expects that the software maker will post earnings of $0.70 per share for the quarter. DA Davidson has a “Buy” rating and a $240.00 price objective on the stock. The consensus estimate for Manhattan Associates’ current full-year earnings is $2.78 per share. DA Davidson also issued estimates for Manhattan Associates’ FY2024 earnings at $2.90 EPS and FY2025 earnings at $3.60 EPS.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 87.22%. The business had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million.

A number of other research firms have also recently commented on MANH. Raymond James upped their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Citigroup cut their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday. Rosenblatt Securities restated a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a report on Wednesday. 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 report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.86.

Manhattan Associates Stock Down 10.5 %

MANH stock opened at $206.32 on Thursday. Manhattan Associates has a twelve month low of $152.32 and a twelve month high of $266.94. The stock has a market capitalization of $12.70 billion, a price-to-earnings ratio of 67.43 and a beta of 1.44. The firm’s fifty day simple moving average is $245.97 and its two-hundred day simple moving average is $227.06.

Institutional Trading of Manhattan Associates

Several hedge funds have recently modified their holdings of MANH. CWM LLC lifted its position in shares of Manhattan Associates by 22.0% during the third quarter. CWM LLC now owns 997 shares of the software maker’s stock valued at $197,000 after buying an additional 180 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Manhattan Associates by 119.8% during the third quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock valued at $647,000 after buying an additional 1,783 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Manhattan Associates by 6.4% during the third quarter. IFP Advisors Inc now owns 1,250 shares of the software maker’s stock valued at $247,000 after buying an additional 75 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Manhattan Associates during the third quarter valued at about $245,000. Finally, Global Retirement Partners LLC lifted its position in shares of Manhattan Associates by 59.2% during the third quarter. Global Retirement Partners LLC now owns 581 shares of the software maker’s stock valued at $116,000 after buying an additional 216 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. 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.