DA Davidson Raises Manhattan Associates (NASDAQ:MANH) Price Target to $315.00

Manhattan Associates (NASDAQ:MANH) had its price objective hoisted by investment analysts at DA Davidson from $285.00 to $315.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. DA Davidson’s price objective would suggest a potential upside of 15.18% from the stock’s previous close. DA Davidson also issued estimates for Manhattan Associates’ Q4 2024 earnings at $0.69 EPS.

Other analysts have also issued research reports about the company. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup upped their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Raymond James increased their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday. Truist Financial lifted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Robert W. Baird increased their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $286.38.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $273.49 on Wednesday. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of 89.38 and a beta of 1.50. The stock has a 50-day simple moving average of $274.55 and a 200-day simple moving average of $246.77. Manhattan Associates has a 52-week low of $182.97 and a 52-week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. The firm had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. Manhattan Associates’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. As a group, equities research analysts predict that Manhattan Associates will post 3.01 earnings per share for the current year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

A number of large investors have recently bought and sold shares of MANH. Tobam bought a new position in Manhattan Associates in the first quarter valued at about $25,000. Innealta Capital LLC acquired a new position in Manhattan Associates in the 2nd quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new stake in Manhattan Associates in the second quarter valued at $27,000. DT Investment Partners LLC acquired a new position in Manhattan Associates during the 2nd quarter worth about $31,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates in the second quarter valued at approximately $31,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.