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

Manhattan Associates, Inc. (NASDAQ:MANH) – Equities researchers at William Blair issued their Q2 2024 EPS estimates for shares of Manhattan Associates in a research note issued to investors on Wednesday, April 24th. William Blair analyst D. Becker forecasts that the software maker will earn $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.

Several other brokerages also recently weighed in on MANH. Raymond James lifted their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Citigroup lowered their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Truist Financial increased their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Rosenblatt Securities restated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday, April 24th. Finally, DA Davidson raised Manhattan Associates from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $220.00 to $240.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Manhattan Associates Stock Up 0.3 %

MANH stock opened at $209.02 on Monday. The business’s 50-day moving average price is $243.64 and its 200-day moving average price is $227.04. The stock has a market cap of $12.87 billion, a P/E ratio of 68.31 and a beta of 1.44. Manhattan Associates has a twelve month low of $164.55 and a twelve month high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.55 by $0.23. The firm 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%.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Manhattan Associates by 2.1% during the 3rd quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock worth $321,958,000 after purchasing an additional 33,549 shares during the period. Morgan Stanley boosted its position in shares of Manhattan Associates by 0.9% during the third quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock valued at $300,927,000 after buying an additional 13,303 shares during the period. Franklin Resources Inc. grew its stake in shares of Manhattan Associates by 16.8% during the fourth quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after buying an additional 125,541 shares during the last quarter. Norges Bank purchased a new stake in shares of Manhattan Associates in the fourth quarter worth approximately $146,984,000. Finally, Northern Trust Corp lifted its stake in shares of Manhattan Associates by 10.5% during the 3rd quarter. Northern Trust Corp now owns 645,187 shares of the software maker’s stock worth $127,528,000 after acquiring an additional 61,437 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was 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 in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction on 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. 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.