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 earnings per share (EPS) guidance of 3.860-3.940 for the period, compared to the consensus 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 stock traded up $2.31 during trading hours on Tuesday, reaching $230.63. The stock had a trading volume of 537,316 shares, compared to its average volume of 370,145. The stock’s fifty day simple moving average is $245.97 and its 200 day simple moving average is $227.06. Manhattan Associates has a 12 month low of $152.32 and a 12 month high of $266.94. The firm has a market capitalization of $14.20 billion, a PE ratio of 81.78 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS 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 firm had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. As a group, equities research analysts anticipate that Manhattan Associates will post 2.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the business’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 completion of the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Eddie Capel sold 10,897 shares of the company’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 transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly 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 currently owned by company insiders.

Manhattan Associates Company Profile

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.