Analysts Set Manhattan Associates, Inc. (NASDAQ:MANH) Price Target at $220.83

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have received an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $219.5833.

Several brokerages recently commented on MANH. Citigroup raised Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $208.00 in a research note on Thursday, January 15th. Stifel Nicolaus cut their price objective on Manhattan Associates from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday. UBS Group set a $240.00 target price on shares of Manhattan Associates in a report on Wednesday, October 22nd. Truist Financial set a $240.00 target price on shares of Manhattan Associates in a research report on Thursday, January 15th. Finally, Raymond James Financial cut their price target on shares of Manhattan Associates from $250.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Manhattan Associates by 1.6% in the third quarter. Vanguard Group Inc. now owns 6,820,320 shares of the software maker’s stock worth $1,398,029,000 after purchasing an additional 108,426 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Manhattan Associates by 22.7% in the third quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker’s stock valued at $574,334,000 after buying an additional 518,321 shares during the last quarter. AQR Capital Management LLC lifted its position in Manhattan Associates by 7.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,077,132 shares of the software maker’s stock worth $425,771,000 after buying an additional 149,079 shares in the last quarter. Invesco Ltd. grew its holdings in Manhattan Associates by 4.1% during the 3rd quarter. Invesco Ltd. now owns 893,264 shares of the software maker’s stock worth $183,101,000 after acquiring an additional 35,172 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Manhattan Associates by 0.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 860,869 shares of the software maker’s stock valued at $176,461,000 after acquiring an additional 5,961 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Stock Up 2.2%

NASDAQ:MANH opened at $174.02 on Friday. The firm has a market capitalization of $10.49 billion, a PE ratio of 49.58 and a beta of 1.02. Manhattan Associates has a 12-month low of $140.81 and a 12-month high of $299.27. The firm has a 50-day moving average price of $173.77 and a 200 day moving average price of $193.91.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 21st. The software maker reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.18. Manhattan Associates had a return on equity of 78.80% and a net margin of 20.25%.The company had revenue of $275.80 million for the quarter, compared to the consensus estimate of $271.66 million. During the same period in the previous year, the business earned $1.35 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, research analysts expect that Manhattan Associates will post 3.3 EPS for the current year.

Manhattan Associates Company Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.