Manhattan Associates, Inc. (NASDAQ:MANH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Manhattan Associates, Inc. (NASDAQ:MANH) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $286.38.

Several analysts recently weighed in on the company. Robert W. Baird increased their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Loop Capital boosted their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. 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 report on Friday, October 11th. Finally, Citigroup boosted their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th.

Manhattan Associates Stock Down 2.5 %

Shares of MANH stock opened at $272.62 on Monday. Manhattan Associates has a 12 month low of $199.23 and a 12 month high of $307.50. The company has a market cap of $16.65 billion, a PE ratio of 77.45 and a beta of 1.52. The business’s 50 day moving average is $279.80 and its two-hundred day moving average is $252.76.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same period last year, the business posted $0.79 EPS. Manhattan Associates’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts expect that Manhattan Associates will post 3.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds have recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in Manhattan Associates in the second quarter valued at $26,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates in the 2nd quarter worth about $27,000. DT Investment Partners LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new position in Manhattan Associates during the 2nd quarter valued at about $31,000. Finally, Capital Performance Advisors LLP acquired a new position in Manhattan Associates in the third quarter valued at about $34,000. 98.45% of the stock is owned by institutional investors and hedge funds.

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.