Manhattan Associates (NASDAQ:MANH) Releases Earnings Results, Beats Estimates By $0.29 EPS

Manhattan Associates (NASDAQ:MANH) released its earnings results on Tuesday. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29, Briefing.com reports. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The firm had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter last year, the company earned $0.79 EPS. Manhattan Associates’s quarterly 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 Stock Performance

NASDAQ MANH opened at $271.36 on Thursday. Manhattan Associates has a twelve month low of $182.97 and a twelve month high of $307.50. The stock has a market cap of $16.71 billion, a PE ratio of 88.68 and a beta of 1.50. The firm has a 50-day simple moving average of $274.18 and a 200 day simple moving average of $246.59.

Analysts Set New Price Targets

MANH has been the topic of several research reports. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday. Raymond James lifted their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial boosted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Citigroup increased their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $286.38.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 46,287 shares in the company, valued at approximately $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.