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 4.600-4.620 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MANH shares. Truist Financial upped their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson increased their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Robert W. Baird increased their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Citigroup increased their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.75.

Manhattan Associates Stock Performance

Manhattan Associates stock traded down $3.22 during trading hours on Tuesday, reaching $292.32. 736,131 shares of the company’s stock traded hands, compared to its average volume of 411,325. The firm has a market capitalization of $18.00 billion, a price-to-earnings ratio of 96.08 and a beta of 1.50. The firm’s 50 day moving average is $272.92 and its 200-day moving average is $246.07. Manhattan Associates has a fifty-two week low of $182.97 and a fifty-two week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. The business had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. Manhattan Associates’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. Analysts predict that Manhattan Associates will post 3.01 EPS for the current year.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 46,287 shares in the company, valued at approximately $11,872,615.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by corporate 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.