Manhattan Associates (NASDAQ:MANH) Issues FY 2024 Earnings Guidance

Manhattan Associates (NASDAQ:MANH) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 3.860-3.940 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

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

Manhattan Associates Stock Up 1.0 %

Shares of NASDAQ MANH traded up $2.31 on Tuesday, reaching $230.63. 537,316 shares of the company’s stock traded hands, compared to its average volume of 370,145. Manhattan Associates has a 12 month low of $152.32 and a 12 month high of $266.94. The business’s 50 day simple moving average is $245.97 and its two-hundred day simple moving average is $227.06. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 81.78 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last announced 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. The company had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. Analysts forecast that Manhattan Associates will post 2.78 earnings per share for the current fiscal year.

Insider Activity at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were 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 in the company, valued at $59,988,562.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were 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 directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Stewart Gantt sold 680 shares of the business’s 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 completion of the sale, 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 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.