Manhattan Associates (NASDAQ:MANH) Given New $315.00 Price Target at DA Davidson

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

Other analysts also recently issued reports about the company. Raymond James raised their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup increased their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Loop Capital lifted their price target 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. Finally, Truist Financial upped their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.38.

Manhattan Associates Trading Down 7.2 %

Shares of NASDAQ MANH opened at $271.36 on Wednesday. The stock has a market cap of $16.71 billion, a PE 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. The company has a 50-day moving average of $274.18 and a 200 day moving average of $246.59.

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

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value 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 approximately $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tobam acquired a new stake in Manhattan Associates during the 1st quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Manhattan Associates in the second quarter valued at $26,000. International Assets Investment Management LLC purchased a new position in Manhattan Associates in the second quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new position in Manhattan Associates during the 2nd quarter worth $31,000. Finally, DT Investment Partners LLC purchased a new stake in Manhattan Associates during the 2nd quarter worth about $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.