Manhattan Associates, Inc. (NASDAQ:MANH) Receives Average Recommendation of “Moderate Buy” from Analysts

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

Several research analysts have commented on MANH shares. Citigroup cut their target price on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Piper Sandler reissued an “overweight” rating and set a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Raymond James dropped their price target 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. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, DA Davidson dropped their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently bought and sold shares of MANH. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Manhattan Associates in the 4th quarter valued at about $3,890,000. GDS Wealth Management boosted its holdings in Manhattan Associates by 281.4% in the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after acquiring an additional 4,683 shares in the last quarter. Oak Thistle LLC acquired a new stake in Manhattan Associates in the fourth quarter valued at approximately $1,326,000. AustralianSuper Pty Ltd increased its holdings in shares of Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after acquiring an additional 210,929 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Manhattan Associates during the fourth quarter worth approximately $1,200,000. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Trading Down 1.0 %

NASDAQ MANH opened at $171.41 on Wednesday. Manhattan Associates has a 1 year low of $169.20 and a 1 year high of $312.60. The firm’s 50 day simple moving average is $234.45 and its 200 day simple moving average is $263.27. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 48.83 and a beta of 1.50.

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.