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

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

Analyst Upgrades and Downgrades

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

Manhattan Associates Trading Up 1.0 %

Shares of NASDAQ MANH opened at $230.63 on Wednesday. The stock has a market capitalization of $14.20 billion, a PE ratio of 81.78 and a beta of 1.44. The stock’s fifty day simple moving average is $245.97 and its two-hundred 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.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.23. The business had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. On average, equities analysts predict that Manhattan Associates will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the 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 sale, the executive vice president now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Eddie Capel sold 10,897 shares of the 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 completion of the sale, the chief executive officer now 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 accessible through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. 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.