Analysts Set Expectations for Manhattan Associates, Inc.’s Q2 2024 Earnings (NASDAQ:MANH)

Manhattan Associates, Inc. (NASDAQ:MANH) – Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of Manhattan Associates in a research note issued on Wednesday, April 24th. DA Davidson analyst G. Luria forecasts that the software maker will post earnings per share of $0.70 for the quarter. DA Davidson has a “Buy” rating and a $240.00 price objective on the stock. The consensus estimate for Manhattan Associates’ current full-year earnings is $2.78 per share. DA Davidson also issued estimates for Manhattan Associates’ FY2024 earnings at $2.90 EPS and FY2025 earnings at $3.60 EPS.

Other equities research analysts have also recently issued reports about the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday. Citigroup dropped their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial raised their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Raymond James raised their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.86.

Manhattan Associates Trading Down 10.5 %

NASDAQ:MANH opened at $206.32 on Thursday. The company has a 50-day moving average price of $245.97 and a 200-day moving average price of $227.06. Manhattan Associates has a 12 month low of $152.32 and a 12 month high of $266.94. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 67.43 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The business had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 87.22%.

Insider Activity at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction dated Tuesday, February 6th. The stock was 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 $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MANH. CWM LLC raised its holdings in Manhattan Associates by 22.0% in the third quarter. CWM LLC now owns 997 shares of the software maker’s stock worth $197,000 after buying an additional 180 shares during the last quarter. AE Wealth Management LLC raised its holdings in Manhattan Associates by 119.8% in the third quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock worth $647,000 after buying an additional 1,783 shares during the last quarter. IFP Advisors Inc raised its holdings in Manhattan Associates by 6.4% in the third quarter. IFP Advisors Inc now owns 1,250 shares of the software maker’s stock worth $247,000 after buying an additional 75 shares during the last quarter. Ritholtz Wealth Management purchased a new position in Manhattan Associates in the third quarter worth about $245,000. Finally, Global Retirement Partners LLC raised its holdings in Manhattan Associates by 59.2% in the third quarter. Global Retirement Partners LLC now owns 581 shares of the software maker’s stock worth $116,000 after buying an additional 216 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.