On January 31, 2024, Manhattan Associates, Inc. (NASDAQ: MANH) delivered impressive fourth-quarter results, surpassing market expectations. The company reported adjusted earnings of $1.03 per share, exceeding the estimated 80 cents per share. Quarterly sales reached $238.25 million, surpassing the anticipated $223.97 million. This outstanding performance prompted analysts to revise their price targets for Manhattan Associates.
Rosenblatt raised their price target from $215 to $225 while maintaining a Neutral rating. Similarly, Raymond James increased their price target from $214 to $250, maintaining an Outperform rating. The average price target from three Wall Street analysts stands at $242.50, with a high forecast of $245.00.
In another positive development, StockNews.com upgraded Manhattan Associates’ shares from a “hold” rating to a “buy” rating. As a result, the company’s shares experienced a significant surge of 10.8% in pre-market trading, reaching $248.00.
Overall, Manhattan Associates’ exceptional performance and positive market sentiment highlight its strong position in the industry.
Manhattan Associates Inc. (MANH) Stock Surges with Impressive Price Increase and Positive Momentum
On January 31, 2024, Manhattan Associates Inc. (MANH) experienced a significant surge in its stock performance. The company’s stock was trading near the top of its 52-week range and above its 200-day simple moving average, indicating a positive trend in its price momentum.
One of the key factors contributing to this remarkable performance was the price change observed on this day. MANH shares witnessed an impressive increase of $16.53 since the market last closed, representing a rise of 7.39%. This surge in price demonstrates the strong investor confidence and market demand for the company’s stock.
The day began on a positive note for MANH, with the stock opening at $255.65. This opening price was $31.87 higher than its previous close, indicating a significant gap up in the stock’s value.
Trading near the top of its 52-week range suggests that MANH has been performing well over the past year and has managed to maintain a positive trajectory. This indicates that the company has been able to generate consistent value for its shareholders and has attracted investor interest.
Moreover, being above its 200-day simple moving average indicates that MANH’s stock has exhibited a positive trend over a longer time frame. This moving average is a widely used technical indicator that helps investors identify the overall direction of a stock’s price movement. The fact that MANH is trading above this average suggests that the stock has been on an upward trajectory for a considerable period.
Investors and market participants should take note of MANH’s impressive stock performance on January 31, 2024. The significant price increase, coupled with trading near the top of its 52-week range and above its 200-day simple moving average, indicates a strong positive sentiment surrounding the company. However, it is essential to conduct thorough research and analysis before making any investment decisions, as stock performance can be influenced by various factors and may fluctuate in the future.
Manhattan Associates Inc Reports Positive Results with Steady Growth and Profitability
MANH stock, representing the performance of Manhattan Associates Inc, showed positive results on January 31, 2024. The company’s total revenue for the past year was $928.73 million, with a quarterly revenue of $238.25 million. Comparing these figures to the previous year, there has been a 21.07% increase in total revenue. However, the total revenue remained flat since the last quarter.
The net income for Manhattan Associates Inc was $176.57 million for the past year, with a quarterly net income of $48.74 million. This indicates a significant increase of 36.92% in net income compared to the previous year. However, similar to the total revenue, the net income remained unchanged since the last quarter.
The earnings per share (EPS) for the company were $2.82 for the past year, with a quarterly EPS of $0.78. This reflects a remarkable increase of 38.66% in EPS compared to the previous year. However, like total revenue and net income, the EPS remained flat since the last quarter.
These positive financial indicators suggest that Manhattan Associates Inc has experienced steady growth and profitability over the past year. The increase in total revenue, net income, and EPS showcases the company’s ability to generate higher profits and deliver value to its shareholders.
