DA Davidson Comments on Manhattan Associates, Inc.’s Q2 2024 Earnings (NASDAQ:MANH)

Manhattan Associates, Inc. (NASDAQ:MANH) – Analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Manhattan Associates in a research report issued on Wednesday, April 24th. DA Davidson analyst G. Luria anticipates that the software maker will post earnings per share of $0.70 for the quarter. DA Davidson has a “Buy” rating and a $240.00 price target on the stock. The consensus estimate for Manhattan Associates’ current full-year earnings is $2.81 per share. DA Davidson also issued estimates for Manhattan Associates’ FY2024 earnings at $2.90 EPS and FY2025 earnings at $3.60 EPS.

MANH has been the subject of several other reports. 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. Truist Financial raised their price objective on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Raymond James raised their price objective on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.86.

Manhattan Associates Stock Up 0.3 %

MANH opened at $209.02 on Thursday. The firm has a market cap of $12.87 billion, a PE ratio of 68.31 and a beta of 1.44. The business has a fifty day simple moving average of $244.34 and a 200-day simple moving average of $226.79. Manhattan Associates has a fifty-two week low of $164.55 and a fifty-two week high of $266.94.

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

Institutional Investors Weigh In On Manhattan Associates

Institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its holdings in Manhattan Associates by 28.8% during the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock valued at $44,000 after purchasing an additional 46 shares in the last quarter. Accurate Wealth Management LLC boosted its holdings in shares of Manhattan Associates by 4.1% in the 1st quarter. Accurate Wealth Management LLC now owns 1,371 shares of the software maker’s stock worth $343,000 after acquiring an additional 54 shares in the last quarter. Capital Insight Partners LLC boosted its holdings in shares of Manhattan Associates by 0.4% in the 3rd quarter. Capital Insight Partners LLC now owns 15,161 shares of the software maker’s stock worth $2,997,000 after acquiring an additional 57 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Manhattan Associates by 4.7% in the 3rd quarter. Signaturefd LLC now owns 1,274 shares of the software maker’s stock worth $252,000 after acquiring an additional 57 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Manhattan Associates by 25.9% in the 4th quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after acquiring an additional 58 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates 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 of the company’s stock, valued at $59,988,562.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the sale, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.