Research Analysts Offer Predictions for Manhattan Associates, Inc.’s Q2 2024 Earnings (NASDAQ:MANH)

Manhattan Associates, Inc. (NASDAQ:MANH) – William Blair issued their Q2 2024 earnings per share (EPS) estimates for shares of Manhattan Associates in a research report issued to clients and investors on Wednesday, April 24th. William Blair analyst D. Becker anticipates that the software maker will post earnings of $0.64 per share for the quarter. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Manhattan Associates’ current full-year earnings is $2.72 per share. William Blair also issued estimates for Manhattan Associates’ Q3 2024 earnings at $0.66 EPS, Q4 2024 earnings at $0.61 EPS, FY2024 earnings at $2.65 EPS, Q1 2025 earnings at $0.75 EPS, Q2 2025 earnings at $0.78 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.76 EPS and FY2025 earnings at $3.16 EPS.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data 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 business had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%.

MANH has been the topic of several other reports. Truist Financial boosted their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Citigroup reduced their price target on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Raymond James boosted their price target on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Rosenblatt Securities reissued a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a research report on Wednesday, April 24th. Finally, DA Davidson raised Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $220.00 to $240.00 in a research report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.86.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $206.06 on Monday. The stock’s 50 day moving average price is $242.96 and its 200 day moving average price is $227.07. The firm has a market capitalization of $12.69 billion, a PE ratio of 67.34 and a beta of 1.44. Manhattan Associates has a one year low of $165.37 and a one year high of $266.94.

Institutional Investors Weigh In On Manhattan Associates

Institutional investors have recently made changes to their positions in the company. Benjamin Edwards Inc. bought a new stake in shares of Manhattan Associates in the 1st quarter valued at approximately $27,000. Blue Trust Inc. grew its stake in Manhattan Associates by 259.4% during the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after buying an additional 83 shares during the last quarter. Bear Mountain Capital Inc. bought a new position in Manhattan Associates during the 4th quarter worth $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Manhattan Associates during the 4th quarter worth $26,000. Finally, Contravisory Investment Management Inc. bought a new position in Manhattan Associates during the 1st quarter worth $31,000. 98.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the sale, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eddie Capel sold 10,897 shares of the business’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 completion of the sale, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is owned by company 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.