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 equities research analysts recently commented on MANH shares. Raymond James boosted their target price on Manhattan Associates from $214.00 to $250.00 and gave the stock an outperform rating in a research report on Wednesday, January 31st. Citigroup assumed coverage on Manhattan Associates in a research report on Wednesday, March 13th. They set a neutral rating and a $260.00 price objective on the stock. Rosenblatt Securities restated a neutral rating and set a $225.00 price objective on shares of Manhattan Associates in a research report on Monday, April 15th. Finally, Truist Financial upped their price objective on Manhattan Associates from $240.00 to $260.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $231.29.

Manhattan Associates Price Performance

Manhattan Associates stock traded up $2.31 during trading hours on Tuesday, reaching $230.63. The stock had a trading volume of 537,316 shares, compared to its average volume of 370,145. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 81.78 and a beta of 1.44. The business’s 50 day moving average price is $245.97 and its 200-day moving average price is $227.06. Manhattan Associates has a 52 week low of $152.32 and a 52 week 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 for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. The firm had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. On average, sell-side analysts forecast that Manhattan Associates will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the firm’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 transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. 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.