Manhattan Associates (NASDAQ:MANH) Posts Earnings Results, Beats Expectations By $0.22 EPS

Manhattan Associates (NASDAQ:MANH) issued its quarterly earnings data on Tuesday. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22, Briefing.com reports. The business had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last 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 %

MANH stock traded up $11.59 during midday trading on Friday, reaching $258.46. The stock had a trading volume of 882,902 shares, compared to its average volume of 427,678. The company’s fifty day simple moving average is $232.77 and its 200 day simple moving average is $234.07. The company has a market cap of $15.91 billion, a price-to-earnings ratio of 80.68 and a beta of 1.50. Manhattan Associates has a 52-week low of $182.97 and a 52-week high of $266.94.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup raised their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday, April 24th. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. StockNews.com raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, DA Davidson lifted their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates has an average 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.