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

Manhattan Associates (NASDAQ:MANH) released its quarterly earnings data on Tuesday. The software maker reported $1.18 EPS for the quarter, topping the consensus estimate of $0.96 by $0.22, Briefing.com reports. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.36%. The business had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. 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 Stock Performance

MANH traded down $2.96 on Thursday, reaching $246.87. 1,080,050 shares of the company’s stock were exchanged, compared to its average volume of 424,472. The company’s 50 day moving average is $232.35 and its 200-day moving average is $233.98. The company has a market cap of $15.20 billion, a price-to-earnings ratio of 81.64 and a beta of 1.50. Manhattan Associates has a twelve month low of $182.97 and a twelve month high of $266.94.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MANH shares. Redburn Atlantic started coverage on shares of Manhattan Associates in a report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 target price on the stock. StockNews.com upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a report on Wednesday. William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Rosenblatt Securities restated a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, Citigroup upped their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $257.43.

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.