Manhattan Associates (NASDAQ:MANH) Price Target Cut to $225.00 by Analysts at Stifel Nicolaus

Manhattan Associates (NASDAQ:MANH) had its price objective trimmed by Stifel Nicolaus from $240.00 to $225.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Several other research analysts also recently weighed in on the company. Morgan Stanley reduced their target price on Manhattan Associates from $200.00 to $165.00 and set an “equal weight” rating for the company in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Manhattan Associates in a report on Wednesday, October 8th. Citigroup raised shares of Manhattan Associates from a “neutral” rating to a “buy” rating and increased their price objective for the company from $200.00 to $208.00 in a report on Thursday, January 15th. DA Davidson set a $250.00 target price on shares of Manhattan Associates in a research report on Wednesday, October 22nd. Finally, Truist Financial set a $240.00 price target on shares of Manhattan Associates in a research report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price of $219.58.

Manhattan Associates Stock Up 2.2%

Shares of Manhattan Associates stock opened at $174.02 on Friday. Manhattan Associates has a twelve month low of $140.81 and a twelve month high of $299.27. The business has a 50-day moving average price of $173.77 and a 200 day moving average price of $193.91. The firm has a market cap of $10.49 billion, a PE ratio of 49.58 and a beta of 1.02.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 21st. The software maker reported $1.36 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $1.35 earnings per share. Manhattan Associates’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Manhattan Associates will post 3.3 EPS for the current year.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in Manhattan Associates by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,928,053 shares of the software maker’s stock valued at $380,733,000 after acquiring an additional 1,243,390 shares during the last quarter. Norges Bank acquired a new stake in shares of Manhattan Associates in the second quarter valued at approximately $162,545,000. Alliancebernstein L.P. lifted its position in Manhattan Associates by 22.7% during the third quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker’s stock worth $574,334,000 after buying an additional 518,321 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Manhattan Associates by 88.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 667,728 shares of the software maker’s stock worth $136,871,000 after buying an additional 314,112 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Manhattan Associates by 86.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 676,034 shares of the software maker’s stock valued at $138,573,000 after buying an additional 312,858 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.