Manhattan Associates (NASDAQ:MANH) Issues Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Manhattan Associates (NASDAQ:MANH) released its earnings results on Tuesday. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22, Briefing.com reports. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Manhattan Associates updated its FY24 guidance to $4.22-4.30 EPS and its FY 2024 guidance to 4.220-4.300 EPS.

Manhattan Associates Trading Up 4.7 %

NASDAQ:MANH traded up $11.59 on Friday, hitting $258.46. 876,187 shares of the stock were exchanged, compared to its average volume of 427,631. The stock has a fifty day moving average of $232.77 and a 200-day moving average of $234.07. The stock has a market cap of $15.91 billion, a PE ratio of 80.68 and a beta of 1.50. Manhattan Associates has a fifty-two week low of $182.97 and a fifty-two week high of $266.94.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MANH. Rosenblatt Securities reissued a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday, April 24th. Redburn Atlantic started coverage on Manhattan Associates in a report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price objective on the stock. Citigroup upped their target price on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. DA Davidson raised their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $257.43.

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.