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

Manhattan Associates (NASDAQ:MANH) updated its FY 2024 earnings guidance on Tuesday. 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.

Wall Street Analyst Weigh In

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

Manhattan Associates Stock Down 10.5 %

Shares of MANH opened at $206.32 on Thursday. Manhattan Associates has a 12-month low of $152.32 and a 12-month high of $266.94. The business’s fifty day moving average is $245.97 and its 200 day moving average is $227.06. The stock has a market cap of $12.70 billion, a P/E ratio of 67.43 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a return on equity of 87.22% and a net margin of 19.91%. The company had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. On average, analysts expect that Manhattan Associates will post 2.78 EPS for the current year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates 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 transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction on 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 directly owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction 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 directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.