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 EPS estimates for Manhattan Associates in a report released on Wednesday, April 24th. DA Davidson analyst G. Luria forecasts that the software maker will post earnings of $0.70 per share 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.

Manhattan Associates (NASDAQ:MANH) last posted 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. The company had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%.

A number of other brokerages have also weighed in on MANH. Raymond James lifted their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Truist Financial boosted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Citigroup cut their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Rosenblatt Securities restated a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Manhattan Associates Stock Performance

MANH stock opened at $209.02 on Thursday. Manhattan Associates has a 52 week low of $164.55 and a 52 week high of $266.94. The firm’s fifty day moving average is $244.34 and its 200 day moving average is $226.79. The firm has a market cap of $12.87 billion, a P/E ratio of 68.31 and a beta of 1.44.

Insider Activity at Manhattan Associates

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. In other news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eddie Capel sold 10,897 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Manhattan Associates by 14.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,161 shares of the software maker’s stock worth $3,043,000 after acquiring an additional 1,580 shares in the last quarter. Aubrey Capital Management Ltd purchased a new stake in shares of Manhattan Associates during the first quarter valued at about $1,927,000. Assenagon Asset Management S.A. lifted its position in shares of Manhattan Associates by 758.7% during the first quarter. Assenagon Asset Management S.A. now owns 80,561 shares of the software maker’s stock valued at $20,159,000 after buying an additional 71,179 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Manhattan Associates by 82.7% during the first quarter. Global Retirement Partners LLC now owns 592 shares of the software maker’s stock valued at $148,000 after buying an additional 268 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Manhattan Associates by 2.3% during the first quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the software maker’s stock valued at $4,429,000 after buying an additional 400 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.