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

by · The Cerbat Gem

Manhattan Associates (NASDAQ:MANH – Get Free Report) posted 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 business had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same quarter last year, the company earned $0.79 EPS. Manhattan Associates’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 Trading Down 8.2 %

Shares of MANH traded down $23.84 during midday trading on Wednesday, reaching $268.48. The stock had a trading volume of 436,992 shares, compared to its average volume of 411,565. The firm has a market cap of $16.53 billion, a PE ratio of 87.82 and a beta of 1.50. The firm has a 50 day simple moving average of $273.75 and a 200-day simple moving average of $246.41. Manhattan Associates has a one year low of $182.97 and a one year high of $307.50.

Analysts Set New Price Targets

Several analysts have weighed in on MANH shares. Truist Financial upped their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Loop Capital raised their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, DA Davidson upped their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $282.63.

Read Our Latest Report on Manhattan Associates

Insider Activity

In other Manhattan Associates 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 transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by insiders.

About Manhattan Associates

(Get Free Report)

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.

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