Brokerages Set Manhattan Associates, Inc. (NASDAQ:MANH) PT at $234.86

Manhattan Associates, Inc. (NASDAQ:MANH) has received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $234.86.

A number of research firms have recently weighed in on MANH. Raymond James upped their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. DA Davidson raised Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their price target for the company from $220.00 to $240.00 in a research note on Thursday, April 25th. Citigroup cut their price objective on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Rosenblatt Securities restated a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th.

Manhattan Associates Stock Performance

MANH stock opened at $214.62 on Thursday. The stock has a market cap of $13.21 billion, a P/E ratio of 70.14 and a beta of 1.45. The firm has a 50 day simple moving average of $237.80 and a 200 day simple moving average of $227.43. Manhattan Associates has a 52 week low of $167.29 and a 52 week high of $266.94.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds have recently modified their holdings of the business. Blue Trust Inc. raised its stake in Manhattan Associates by 259.4% during the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after purchasing an additional 83 shares during the last quarter. Tobam acquired a new stake in Manhattan Associates during the first quarter worth about $25,000. Bear Mountain Capital Inc. bought a new position in Manhattan Associates during the fourth quarter valued at about $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $26,000. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Manhattan Associates during the 1st quarter worth approximately $27,000. 98.45% of the stock is owned by institutional investors.

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.