Manhattan Associates (NASDAQ:MANH) Coverage Initiated at Piper Sandler

Equities researchers at Piper Sandler assumed coverage on shares of Manhattan Associates (NASDAQ:MANH) in a note issued to investors on Monday, Marketbeat.com reports. The firm set an “overweight” rating and a $326.00 price target on the software maker’s stock. Piper Sandler’s target price would suggest a potential upside of 12.82% from the company’s current price.

Several other analysts have also weighed in on the company. Loop Capital upped their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Citigroup increased their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson increased their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Raymond James increased their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.78.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $288.95 on Monday. The firm has a market capitalization of $17.65 billion, a price-to-earnings ratio of 81.93 and a beta of 1.52. Manhattan Associates has a fifty-two week low of $199.23 and a fifty-two week high of $307.50. The stock’s fifty day moving average is $281.33 and its two-hundred day moving average is $255.41.

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

Hedge Funds Weigh In On Manhattan Associates

Large investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter worth about $26,000. International Assets Investment Management LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at about $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Manhattan Associates during the 3rd quarter valued at about $34,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at about $31,000. Finally, DT Investment Partners LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at about $31,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.