DA Davidson Weighs in on Manhattan Associates, Inc.'s Q2 2024 Earnings (NASDAQ:MANH)

Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) - Analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Manhattan Associates in a research note issued to investors on Wednesday, April 24th. DA Davidson analyst G. Luria anticipates 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 objective on the stock. The consensus estimate for Manhattan Associates' current full-year earnings is $2.78 per share. DA Davidson also issued estimates for Manhattan Associates' FY2024 earnings at $2.90 EPS and FY2025 earnings at $3.60 EPS.

A number of other brokerages also recently commented on MANH. Truist Financial upped their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. Rosenblatt Securities reissued a "neutral" rating and issued a $225.00 target price on shares of Manhattan Associates in a research note on Wednesday. Citigroup cut their target price on Manhattan Associates from $260.00 to $220.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Raymond James increased their target price on Manhattan Associates from $214.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $234.86.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock traded up $1.98 during midday trading on Thursday, reaching $208.30. 739,547 shares of the company's stock traded hands, compared to its average volume of 388,763. The company has a market cap of $12.83 billion, a PE ratio of 68.07 and a beta of 1.44. The stock has a 50 day moving average of $245.12 and a 200-day moving average of $226.92. Manhattan Associates has a 12 month low of $163.43 and a 12 month high of $266.94.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 87.22% and a net margin of 19.91%. The firm had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million.

Insider Activity at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares of the company's stock, valued at $59,988,562.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MANH. Norges Bank bought a new position in Manhattan Associates in the fourth quarter valued at about $146,984,000. TD Asset Management Inc raised its stake in shares of Manhattan Associates by 234.2% in the fourth quarter. TD Asset Management Inc now owns 549,308 shares of the software maker's stock worth $118,277,000 after buying an additional 384,941 shares during the period. California Public Employees Retirement System raised its stake in shares of Manhattan Associates by 184.3% in the third quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker's stock worth $69,708,000 after buying an additional 228,618 shares during the period. Epoch Investment Partners Inc. raised its stake in shares of Manhattan Associates by 110.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker's stock worth $79,529,000 after buying an additional 193,951 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Manhattan Associates by 16.8% in the fourth quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker's stock worth $187,967,000 after buying an additional 125,541 shares during the period. Institutional investors own 98.45% 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.