Manhattan Associates, Inc. Expected to Post FY2024 Earnings of $3.04 Per Share (NASDAQ:MANH)

Manhattan Associates, Inc. (NASDAQ:MANH) – Investment analysts at DA Davidson upped their FY2024 earnings per share estimates for shares of Manhattan Associates in a research report issued on Wednesday, July 24th. DA Davidson analyst G. Luria now forecasts that the software maker will post earnings of $3.04 per share for the year, up from their prior estimate of $2.70. DA Davidson has a “Buy” rating and a $285.00 price target on the stock. The consensus estimate for Manhattan Associates’ current full-year earnings is $2.72 per share. DA Davidson also issued estimates for Manhattan Associates’ FY2025 earnings at $3.78 EPS.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. During the same period in the previous year, the firm earned $0.63 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year.

A number of other research firms also recently issued reports on MANH. Loop Capital lifted their price objective on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday. Redburn Atlantic began coverage on Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 target price on the stock. Citigroup boosted their target price on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. StockNews.com raised Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $257.43.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $246.87 on Friday. Manhattan Associates has a 1 year low of $182.97 and a 1 year high of $266.94. The stock’s 50 day simple moving average is $232.77 and its two-hundred day simple moving average is $234.07. The company has a market cap of $15.20 billion, a price-to-earnings ratio of 80.68 and a beta of 1.50.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds have recently bought and sold shares of MANH. Raymond James Financial Services Advisors Inc. grew its position in Manhattan Associates by 124.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,479 shares of the software maker’s stock valued at $749,000 after acquiring an additional 1,931 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Manhattan Associates by 5.1% in the 4th quarter. Pacer Advisors Inc. now owns 12,860 shares of the software maker’s stock worth $2,769,000 after buying an additional 628 shares during the period. Highland Capital Management LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter worth $1,142,000. Ritholtz Wealth Management lifted its holdings in shares of Manhattan Associates by 180.5% in the 4th quarter. Ritholtz Wealth Management now owns 3,484 shares of the software maker’s stock worth $750,000 after buying an additional 2,242 shares during the period. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Manhattan Associates in the 4th quarter worth $205,000. Institutional investors own 98.45% of the company’s stock.

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.