DA Davidson Has Optimistic Outlook of MANH FY2024 Earnings

Manhattan Associates, Inc. (NASDAQ:MANH) – Research analysts at DA Davidson boosted their FY2024 EPS estimates for shares of Manhattan Associates in a research note issued on Wednesday, October 23rd. DA Davidson analyst G. Luria now anticipates that the software maker will post earnings per share of $3.40 for the year, up from their prior estimate of $2.97. DA Davidson currently has a “Buy” rating and a $315.00 target price on the stock. The consensus estimate for Manhattan Associates’ current full-year earnings is $3.01 per share. DA Davidson also issued estimates for Manhattan Associates’ FY2025 earnings at $3.57 EPS.

MANH has been the subject of several other research reports. Truist Financial boosted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Loop Capital upped their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Raymond James lifted their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird raised their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.38.

Manhattan Associates Price Performance

Shares of MANH opened at $275.70 on Friday. Manhattan Associates has a 12 month low of $186.77 and a 12 month high of $307.50. The stock has a fifty day moving average price of $274.95 and a 200 day moving average price of $247.01. The company has a market cap of $16.89 billion, a P/E ratio of 78.32 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 86.65% and a net margin of 21.38%. Manhattan Associates’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MANH. First Trust Direct Indexing L.P. boosted its position in shares of Manhattan Associates by 30.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,786 shares of the software maker’s stock valued at $784,000 after purchasing an additional 649 shares during the period. Fidelis Capital Partners LLC increased its position in shares of Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after acquiring an additional 40 shares in the last quarter. Smith Group Asset Management LLC raised its holdings in shares of Manhattan Associates by 2.5% during the third quarter. Smith Group Asset Management LLC now owns 91,591 shares of the software maker’s stock valued at $25,772,000 after acquiring an additional 2,230 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Manhattan Associates by 112.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,907 shares of the software maker’s stock valued at $5,039,000 after acquiring an additional 9,468 shares in the last quarter. Finally, Inscription Capital LLC purchased a new stake in shares of Manhattan Associates in the third quarter valued at $245,000. Institutional investors and hedge funds 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.