Manhattan Associates (NASDAQ:MANH) Announces Quarterly Earnings Results

Manhattan Associates (NASDAQ:MANH) issued its earnings results on Tuesday. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29, Briefing.com reports. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. During the same quarter last year, the firm earned $0.79 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Manhattan Associates updated its FY24 guidance to $4.60-4.62 EPS and its FY 2024 guidance to 4.600-4.620 EPS.

Manhattan Associates Price Performance

MANH stock traded up $2.13 on Thursday, reaching $273.49. The company’s stock had a trading volume of 685,598 shares, compared to its average volume of 417,797. The firm has a fifty day moving average of $274.18 and a two-hundred day moving average of $246.59. The company has a market capitalization of $16.84 billion, a P/E ratio of 88.68 and a beta of 1.50. Manhattan Associates has a 52 week low of $182.97 and a 52 week high of $307.50.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MANH has been the subject of a number of research reports. DA Davidson lifted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup increased their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Robert W. Baird upped their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Loop Capital raised their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price of $286.38.

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.