DA Davidson Boosts Manhattan Associates (NASDAQ:MANH) Price Target to $260.00

Manhattan Associates (NASDAQ:MANHFree Report) had its price objective upped by DA Davidson from $240.00 to $260.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other equities research analysts also recently issued reports on the stock. Citigroup reduced their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a neutral rating on the stock in a research note on Wednesday, April 24th. Truist Financial upped their price target 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 lifted their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. Rosenblatt Securities reissued a neutral rating and set a $225.00 target price on shares of Manhattan Associates in a research note on Wednesday, April 24th. Finally, Redburn Atlantic began coverage on Manhattan Associates in a research report on Tuesday, May 14th. They issued a buy rating and a $260.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $240.50.

View Our Latest Analysis on Manhattan Associates

Manhattan Associates Stock Performance

MANH opened at $228.78 on Thursday. The stock has a market capitalization of $14.09 billion, a PE ratio of 74.76 and a beta of 1.45. Manhattan Associates has a one year low of $171.30 and a one year high of $266.94. The business’s 50 day moving average price is $232.74 and its 200 day moving average price is $228.91.

Manhattan Associates (NASDAQ:MANHGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.86 EPS for the quarter, beating the consensus estimate of $0.63 by $0.23. The business had revenue of $254.55 million for the quarter, compared to analyst estimates of $243.32 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. As a group, equities research analysts forecast that Manhattan Associates will post 2.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently made changes to their positions in MANH. Raymond James Financial Services Advisors Inc. lifted its stake in Manhattan Associates by 9.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,548 shares of the software maker’s stock worth $306,000 after acquiring an additional 129 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Manhattan Associates by 5.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,684 shares of the software maker’s stock worth $2,507,000 after purchasing an additional 712 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Manhattan Associates by 958.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 128,574 shares of the software maker’s stock valued at $25,414,000 after buying an additional 116,425 shares during the last quarter. Fifth Third Bancorp raised its stake in Manhattan Associates by 23.0% in the third quarter. Fifth Third Bancorp now owns 599 shares of the software maker’s stock valued at $118,000 after buying an additional 112 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Manhattan Associates by 53.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 40,083 shares of the software maker’s stock worth $7,923,000 after buying an additional 13,897 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Manhattan Associates (NASDAQ:MANH)

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