Analysts Anticipate Manhattan Associates, Inc. (NASDAQ:MANH) Will Post Quarterly Sales of $156.82 Million

Brokerages expect that Manhattan Associates, Inc. (NASDAQ:MANH) will announce sales of $156.82 million for the current quarter, according to Zacks. Three analysts have made estimates for Manhattan Associates’ earnings. The lowest sales estimate is $156.60 million and the highest is $157.15 million. Manhattan Associates reported sales of $135.63 million in the same quarter last year, which indicates a positive year over year growth rate of 15.6%. The company is scheduled to report its next quarterly earnings report on Thursday, July 22nd.

According to Zacks, analysts expect that Manhattan Associates will report full-year sales of $633.25 million for the current financial year, with estimates ranging from $630.12 million to $635.00 million. For the next year, analysts forecast that the business will report sales of $680.23 million, with estimates ranging from $675.87 million to $685.16 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Manhattan Associates.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Monday, April 26th. The software maker reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. The company had revenue of $156.85 million for the quarter, compared to the consensus estimate of $143.72 million. Manhattan Associates had a return on equity of 43.99% and a net margin of 14.82%. Manhattan Associates’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share.

Several analysts recently issued reports on the company. Loop Capital increased their target price on Manhattan Associates from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, April 28th. Truist boosted their target price on shares of Manhattan Associates from $136.00 to $165.00 in a report on Wednesday, April 28th. Rosenblatt Securities raised their target price on shares of Manhattan Associates from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, May 6th. Truist Securities increased their price objective on shares of Manhattan Associates from $136.00 to $165.00 in a report on Wednesday, April 28th. Finally, Benchmark lifted their target price on Manhattan Associates from $137.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, May 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $147.00.

Institutional investors and hedge funds have recently modified their holdings of the stock. KB Financial Partners LLC bought a new position in Manhattan Associates during the first quarter valued at $212,000. Principal Financial Group Inc. boosted its stake in shares of Manhattan Associates by 48.4% during the 1st quarter. Principal Financial Group Inc. now owns 573,067 shares of the software maker’s stock worth $67,267,000 after purchasing an additional 186,781 shares during the period. Virtu Financial LLC bought a new position in Manhattan Associates during the 1st quarter valued at about $311,000. Squarepoint Ops LLC raised its position in Manhattan Associates by 61.9% in the 1st quarter. Squarepoint Ops LLC now owns 30,875 shares of the software maker’s stock worth $3,624,000 after purchasing an additional 11,810 shares during the period. Finally, Paloma Partners Management Co bought a new stake in Manhattan Associates in the first quarter worth about $1,041,000. Institutional investors own 98.95% of the company’s stock.

Shares of MANH traded up $4.46 during mid-day trading on Friday, reaching $142.97. The stock had a trading volume of 332,471 shares, compared to its average volume of 365,401. Manhattan Associates has a 12 month low of $81.13 and a 12 month high of $146.84. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 101.85 and a beta of 1.94. The business’s fifty day moving average price is $129.88.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.

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