Manhattan Associates (NASDAQ:MANH) Announces Quarterly Earnings Results

Manhattan Associates (NASDAQ:MANH) issued its earnings results on Tuesday. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22, Briefing.com reports. The company had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. Manhattan Associates updated its FY24 guidance to $4.22-4.30 EPS and its FY 2024 guidance to 4.220-4.300 EPS.

Manhattan Associates Trading Up 4.7 %

Manhattan Associates stock traded up $11.59 during mid-day trading on Friday, hitting $258.46. 876,187 shares of the company’s stock were exchanged, compared to its average volume of 427,631. Manhattan Associates has a 1-year low of $182.97 and a 1-year high of $266.94. The stock has a 50 day moving average of $232.77 and a two-hundred day moving average of $234.07. The stock has a market cap of $15.91 billion, a P/E ratio of 80.68 and a beta of 1.50.

Analyst Upgrades and Downgrades

MANH has been the topic of several research reports. DA Davidson upped their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday. William Blair reaffirmed a “market perform” rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Loop Capital increased their price objective on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Citigroup upped their target price on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.43.

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.