Zacks: Brokerages Expect Manhattan Associates, Inc. (NASDAQ:MANH) Will Announce Quarterly Sales of $155.47 Million

Wall Street analysts expect Manhattan Associates, Inc. (NASDAQ:MANH) to post sales of $155.47 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Manhattan Associates’ earnings, with the lowest sales estimate coming in at $151.42 million and the highest estimate coming in at $157.15 million. Manhattan Associates posted sales of $135.63 million during the same quarter last year, which suggests a positive year over year growth rate of 14.6%. The business is scheduled to issue its next earnings report on Thursday, July 22nd.

On average, analysts expect that Manhattan Associates will report full-year sales of $628.55 million for the current financial year, with estimates ranging from $614.45 million to $635.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $680.23 million, with estimates ranging from $675.87 million to $685.16 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Manhattan Associates.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Monday, April 26th. The software maker reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. Manhattan Associates had a return on equity of 52.61% and a net margin of 14.09%. The business had revenue of $156.85 million during the quarter, compared to analysts’ expectations of $143.72 million. During the same period in the prior year, the business earned $0.40 EPS. Manhattan Associates’s revenue for the quarter was up 1.9% compared to the same quarter last year.

A number of analysts recently issued reports on the company. Truist increased their target price on Manhattan Associates from $136.00 to $165.00 in a research note on Wednesday, April 28th. Robert W. Baird raised their price target on shares of Manhattan Associates from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Loop Capital raised their price target on shares of Manhattan Associates from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, April 28th. Rosenblatt Securities raised their price target on shares of Manhattan Associates from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 3rd. Finally, Truist Securities increased their price objective on Manhattan Associates from $136.00 to $165.00 in a report on Wednesday, April 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $140.13.

NASDAQ MANH traded down $1.49 during trading hours on Thursday, reaching $134.94. 444,257 shares of the company’s stock were exchanged, compared to its average volume of 372,771. The company’s 50-day moving average is $123.08 and its two-hundred day moving average is $112.76. Manhattan Associates has a one year low of $66.40 and a one year high of $146.84. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 104.95 and a beta of 1.93.

In other Manhattan Associates news, Director Deepak Raghavan sold 7,087 shares of the firm’s stock in a transaction on Friday, February 5th. The stock was sold at an average price of $128.87, for a total transaction of $913,301.69. Following the completion of the sale, the director now owns 40,041 shares of the company’s stock, valued at approximately $5,160,083.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.74% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MANH. Norges Bank acquired a new stake in Manhattan Associates during the 4th quarter valued at $81,371,000. Price T Rowe Associates Inc. MD increased its position in Manhattan Associates by 89.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,312,642 shares of the software maker’s stock worth $138,064,000 after buying an additional 618,398 shares during the period. Morgan Stanley increased its position in Manhattan Associates by 277.9% during the 4th quarter. Morgan Stanley now owns 257,339 shares of the software maker’s stock worth $27,067,000 after buying an additional 189,246 shares during the period. Alliancebernstein L.P. increased its position in Manhattan Associates by 8.8% during the 4th quarter. Alliancebernstein L.P. now owns 2,312,413 shares of the software maker’s stock worth $243,220,000 after buying an additional 186,483 shares during the period. Finally, Columbus Circle Investors bought a new position in Manhattan Associates during the 4th quarter worth $11,645,000.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.

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Earnings History and Estimates for Manhattan Associates (NASDAQ:MANH)

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