DA Davidson Raises Manhattan Associates (NASDAQ:MANH) Price Target to $315.00

Manhattan Associates (NASDAQ:MANH) had its price target lifted by DA Davidson from $285.00 to $315.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other equities analysts have also commented on the stock. Truist Financial increased their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Loop Capital increased their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James upped their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Citigroup lifted their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and an average target price of $286.38.

Manhattan Associates Trading Down 7.2 %

Manhattan Associates stock opened at $271.36 on Wednesday. The company has a fifty day simple moving average of $274.18 and a 200-day simple moving average of $246.59. The stock has a market cap of $16.71 billion, a P/E ratio of 88.68 and a beta of 1.50. Manhattan Associates has a 12-month low of $182.97 and a 12-month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same period in the previous year, the business earned $0.79 EPS. Manhattan Associates’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that Manhattan Associates will post 3.01 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

A number of large investors have recently bought and sold shares of the company. Tobam acquired a new position in shares of Manhattan Associates during the first quarter worth about $25,000. Innealta Capital LLC purchased a new stake in Manhattan Associates in the 2nd quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new position in Manhattan Associates during the 2nd quarter worth approximately $27,000. DT Investment Partners LLC purchased a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $31,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Manhattan Associates in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

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.