Shares of Manhattan Associates, Inc. (NASDAQ:MANH – Get Free Report) have been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $286.38.
Several research analysts have commented on the stock. DA Davidson raised their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup raised their target price 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. Loop Capital raised their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Raymond James raised their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird raised their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd.
Read Our Latest Stock Report on MANH
Manhattan Associates Trading Down 4.1 %
Manhattan Associates (NASDAQ:MANH – Get Free Report) last posted its quarterly earnings data 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. Manhattan Associates had a net margin of 21.38% and a return on equity of 86.65%. The company had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. During the same quarter last year, the firm posted $0.79 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts forecast that Manhattan Associates will post 3.01 earnings per share for the current year.
Hedge Funds Weigh In On Manhattan Associates
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MANH. Sunbelt Securities Inc. raised its position in Manhattan Associates by 57.1% during the first quarter. Sunbelt Securities Inc. now owns 779 shares of the software maker’s stock valued at $195,000 after acquiring an additional 283 shares in the last quarter. Capital Insight Partners LLC raised its position in Manhattan Associates by 0.7% during the first quarter. Capital Insight Partners LLC now owns 14,980 shares of the software maker’s stock valued at $3,748,000 after acquiring an additional 106 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Manhattan Associates by 67.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 3,312 shares of the software maker’s stock valued at $829,000 after acquiring an additional 1,337 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Manhattan Associates by 126.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 26,837 shares of the software maker’s stock valued at $6,715,000 after acquiring an additional 14,966 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in Manhattan Associates by 2.5% during the first quarter. State of Michigan Retirement System now owns 16,131 shares of the software maker’s stock valued at $4,036,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.
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.
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