Manhattan Associates, Inc. (NASDAQ:MANH) Receives $273.33 Consensus PT from Analysts

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $273.33.

Several research firms have issued reports on MANH. Piper Sandler reaffirmed an “overweight” rating and issued a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Raymond James lowered their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Loop Capital lowered their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Truist Financial lowered their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $176.88 on Wednesday. The stock has a market capitalization of $10.81 billion, a P/E ratio of 50.39 and a beta of 1.50. Manhattan Associates has a 1 year low of $169.94 and a 1 year high of $312.60. The business’s fifty day moving average is $236.56 and its two-hundred day moving average is $263.66.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently modified their holdings of MANH. Vanguard Group Inc. lifted its stake in shares of Manhattan Associates by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock valued at $1,811,299,000 after purchasing an additional 50,538 shares during the last quarter. FMR LLC raised its position in shares of Manhattan Associates by 16.2% during the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock valued at $602,005,000 after buying an additional 310,257 shares during the last quarter. State Street Corp raised its position in shares of Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after buying an additional 12,787 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Manhattan Associates by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after buying an additional 578,295 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Manhattan Associates by 3.1% during the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock valued at $502,960,000 after buying an additional 55,334 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.