Manhattan Associates, Inc. (NASDAQ:MANH) Receives $220.83 Consensus PT from Brokerages

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $220.8333.

Several research analysts have recently issued reports on the company. Raymond James Financial reduced their price target on Manhattan Associates from $250.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Zacks Research lowered shares of Manhattan Associates from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Barclays reduced their target price on Manhattan Associates from $239.00 to $237.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Stifel Nicolaus lowered their price target on shares of Manhattan Associates from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Manhattan Associates in a research report on Wednesday, October 8th.

Manhattan Associates Stock Down 1.3%

Shares of NASDAQ MANH opened at $173.28 on Friday. Manhattan Associates has a 12 month low of $140.81 and a 12 month high of $299.27. The company has a market cap of $10.44 billion, a P/E ratio of 49.37 and a beta of 1.02. The business’s 50 day moving average is $174.37 and its two-hundred day moving average is $194.70.

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

Hedge Funds Weigh In On Manhattan Associates

Several large investors have recently added to or reduced their stakes in MANH. Whipplewood Advisors LLC grew its stake in Manhattan Associates by 907.7% in the 2nd quarter. Whipplewood Advisors LLC now owns 131 shares of the software maker’s stock valued at $26,000 after buying an additional 118 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Manhattan Associates by 448.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock worth $28,000 after purchasing an additional 112 shares in the last quarter. Eastern Bank bought a new stake in Manhattan Associates in the 3rd quarter worth approximately $30,000. Hantz Financial Services Inc. lifted its holdings in Manhattan Associates by 1,000.0% in the second quarter. Hantz Financial Services Inc. now owns 308 shares of the software maker’s stock valued at $61,000 after acquiring an additional 280 shares during the period. Finally, Quarry LP bought a new stake in Manhattan Associates during the third quarter valued at approximately $62,000. Institutional investors own 98.45% of the company’s stock.

About Manhattan Associates

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.