Manhattan Associates (NASDAQ:MANH) Releases Quarterly Earnings Results

Manhattan Associates (NASDAQ:MANH - Get Free Report) announced its quarterly earnings data on Tuesday. The software maker reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.29, Briefing.com reports. The firm had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $0.79 EPS. 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

MANH stock traded down $20.96 during midday trading on Wednesday, hitting $271.36. 1,446,704 shares of the company's stock were exchanged, compared to its average volume of 416,491. The stock's fifty day moving average price is $273.75 and its 200-day moving average price is $246.41. The company has a market cap of $16.71 billion, a PE ratio of 88.92 and a beta of 1.50. Manhattan Associates has a one year low of $182.97 and a one year high of $307.50.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction dated 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 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on MANH shares. Raymond James increased 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 increased their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Robert W. Baird increased their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research report on Tuesday. Citigroup increased their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Finally, DA Davidson raised their price target on Manhattan Associates from $285.00 to $315.00 and gave the stock a "buy" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average 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.