Manhattan Associates (NASDAQ:MANH) Price Target Raised to $305.00

Manhattan Associates (NASDAQ:MANH) had its price target lifted by Raymond James from $255.00 to $305.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the software maker’s stock.

Several other equities research analysts also recently weighed in on the stock. Loop Capital upped their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup lifted their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. DA Davidson upped their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Truist Financial lifted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price of $286.38.

Manhattan Associates Stock Up 0.8 %

MANH opened at $275.70 on Wednesday. Manhattan Associates has a 52 week low of $186.77 and a 52 week high of $307.50. The business has a fifty day simple moving average of $274.95 and a 200-day simple moving average of $247.01. The firm has a market cap of $16.89 billion, a P/E ratio of 78.32 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a return on equity of 86.65% and a net margin of 21.38%. Manhattan Associates’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. Sell-side analysts expect that Manhattan Associates will post 3.01 earnings per share for the current year.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of the business’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 owns 46,287 shares in the company, valued at $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently bought and sold shares of MANH. Tobam purchased a new position in shares of Manhattan Associates during the first quarter worth about $25,000. Innealta Capital LLC acquired a new position in Manhattan Associates during the second quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new stake in Manhattan Associates in the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Manhattan Associates in the second quarter valued at approximately $31,000. Finally, DT Investment Partners LLC purchased a new position in shares of Manhattan Associates during the second quarter worth approximately $31,000. 98.45% of the stock is currently 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.