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.

Analyst Upgrades and Downgrades

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

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $206.32 on Thursday. Manhattan Associates has a 1-year low of $152.32 and a 1-year high of $266.94. The business has a fifty day moving average price of $245.97 and a 200-day moving average price of $227.06. The company has a market capitalization of $12.70 billion, a PE ratio of 67.43 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 87.22% and a net margin of 19.91%. The firm had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. On average, sell-side analysts anticipate that Manhattan Associates will post 2.78 earnings per share for the current fiscal year.

Insider Activity

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

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.