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

Piper Sandler initiated coverage on shares of Manhattan Associates (NASDAQ:MANH) in a research report report published on Monday morning, MarketBeat reports. The firm issued an overweight rating and a $326.00 price objective on the software maker’s stock.

Other analysts also recently issued research reports about the stock. Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. DA Davidson upped their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup increased their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Truist Financial boosted their price target on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $290.78.

Manhattan Associates Price Performance

Shares of MANH stock opened at $287.68 on Monday. The company’s fifty day moving average price is $282.02 and its two-hundred day moving average price is $256.13. The firm has a market capitalization of $17.57 billion, a P/E ratio of 81.73 and a beta of 1.52. Manhattan Associates has a 12 month low of $199.23 and a 12 month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Manhattan Associates will post 3.4 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in shares of Manhattan Associates during the second quarter valued at $26,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates during the second quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new position in Manhattan Associates in the 3rd quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates in the 2nd quarter valued at approximately $31,000. Finally, DT Investment Partners LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at $31,000. Institutional investors and hedge funds 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.