Manhattan Associates (NASDAQ:MANH) Releases FY24 Earnings Guidance

Manhattan Associates (NASDAQ:MANH) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.22-4.30 for the period, compared to the consensus estimate of $3.91. The company issued revenue guidance of $1.036-1.044 billion, compared to the consensus revenue estimate of $1.03 billion. Manhattan Associates also updated its FY 2024 guidance to 4.220-4.300 EPS.

Manhattan Associates Trading Up 0.4 %

MANH stock traded up $0.85 during trading on Tuesday, reaching $226.00. 666,612 shares of the stock were exchanged, compared to its average volume of 412,410. The firm’s 50 day moving average is $231.63 and its 200 day moving average is $233.68. Manhattan Associates has a twelve month low of $182.97 and a twelve month high of $266.94. The firm has a market cap of $13.91 billion, a P/E ratio of 74.53 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, April 23rd. The software maker reported $0.86 EPS for the quarter, topping the consensus estimate of $0.63 by $0.23. The firm had revenue of $254.55 million during the quarter, compared to the consensus estimate of $243.32 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. As a group, analysts predict that Manhattan Associates will post 2.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

MANH has been the subject of several analyst reports. Citigroup increased their price objective on Manhattan Associates from $220.00 to $257.00 and gave the stock a neutral rating in a research note on Friday, June 28th. Redburn Atlantic began coverage on Manhattan Associates in a research report on Tuesday, May 14th. They set a buy rating and a $260.00 price target for the company. StockNews.com downgraded Manhattan Associates from a buy rating to a hold rating in a research report on Monday, May 27th. DA Davidson increased their price target on Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a research report on Thursday, May 16th. Finally, Rosenblatt Securities reaffirmed a neutral rating and set a $225.00 price target on shares of Manhattan Associates in a research report on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $248.86.

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.