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

Manhattan Associates, Inc. (NASDAQ:MANH) – William Blair issued their Q2 2024 EPS estimates for Manhattan Associates in a report released on Wednesday, April 24th. William Blair analyst D. Becker forecasts that the software maker will post earnings of $0.64 per share for the quarter. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Manhattan Associates’ current full-year earnings is $2.72 per share. William Blair also issued estimates for Manhattan Associates’ Q3 2024 earnings at $0.66 EPS, Q4 2024 earnings at $0.61 EPS, FY2024 earnings at $2.65 EPS, Q1 2025 earnings at $0.75 EPS, Q2 2025 earnings at $0.78 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.76 EPS and FY2025 earnings at $3.16 EPS.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The business had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%.

MANH has been the topic of several other research reports. Raymond James lifted 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. Citigroup reduced their price objective on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday, April 24th. Truist Financial boosted their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, DA Davidson upgraded shares of Manhattan Associates from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $220.00 to $240.00 in a report on Thursday. Three equities 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.86.

Manhattan Associates Price Performance

MANH opened at $209.02 on Monday. Manhattan Associates has a fifty-two week low of $164.55 and a fifty-two week high of $266.94. The company’s 50-day moving average is $243.64 and its 200 day moving average is $227.04. The firm has a market capitalization of $12.87 billion, a P/E ratio of 68.31 and a beta of 1.44.

Institutional Trading of Manhattan Associates

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of Manhattan Associates by 259.4% in the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares during the period. Bear Mountain Capital Inc. bought a new position in Manhattan Associates in the 4th quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at about $26,000. Contravisory Investment Management Inc. bought a new stake in shares of Manhattan Associates during the 1st quarter valued at about $31,000. Finally, Quarry LP purchased a new position in shares of Manhattan Associates during the fourth quarter worth about $38,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction that occurred on 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 approximately $14,207,022.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Eddie Capel sold 10,897 shares of the company’s 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 sale, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the transaction, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.