Manhattan Associates (NASDAQ:MANH) Price Target Raised to $275.00

Key Points

• Barclays raised Manhattan Associates’ price target to $275 from $239 while maintaining an “overweight” rating, implying 8.18% upside from the prior close.
• Analyst sentiment remains positive, with eight Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $261.11.
• Manhattan Associates exceeded quarterly expectations, reporting $1.55 in EPS and $306.19 million in revenue, with revenue up 11% year over year.

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its target price raised by stock analysts at Barclays from $239.00 to $275.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the software maker's stock. Barclays's target price would indicate a potential upside of 8.18% from the stock's previous close.

MANH has been the subject of a number of other research reports. Morgan Stanley upgraded Manhattan Associates from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $180.00 to $250.00 in a research report on Monday, October 12th. Weiss Ratings upgraded Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. DA Davidson increased their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "neutral" rating in a report on Wednesday, October 28th. Robert W. Baird lifted their price target on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, August 26th. Finally, Truist Financial reiterated a "buy" rating and issued a $305.00 price target (up from $240.00) on shares of Manhattan Associates in a research report on Wednesday, October 28th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $261.11.

Manhattan Associates Trading Up 2.3%

NASDAQ MANH traded up $5.81 on Monday, hitting $254.20. The company's stock had a trading volume of 435,935 shares, compared to its average volume of 761,461. The firm has a market cap of $14.82 billion, a P/E ratio of 71.31 and a beta of 0.85. Manhattan Associates has a 52-week low of $119.06 and a 52-week high of $259.76. The company's 50-day simple moving average is $216.59 and its 200 day simple moving average is $166.68.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, October 27th. The software maker reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.09. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The firm had revenue of $306.19 million during the quarter, compared to analyst estimates of $297.01 million. During the same quarter in the prior year, the company earned $1.36 EPS. The business's revenue was up 11.0% compared to the same quarter last year. On average, research analysts forecast that Manhattan Associates will post 3.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eric Clark sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Genesis Private Wealth LLC purchased a new stake in shares of Manhattan Associates during the 3rd quarter worth $228,000. QTR Family Wealth LLC purchased a new position in Manhattan Associates in the third quarter valued at about $232,000. Capstone Wealth Management LLC purchased a new position in Manhattan Associates in the third quarter valued at about $278,000. Boston Trust Walden Corp bought a new position in Manhattan Associates in the third quarter worth about $87,119,000. Finally, Chicago Partners Investment Group LLC grew its position in shares of Manhattan Associates by 2.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,388 shares of the software maker's stock worth $1,522,000 after buying an additional 180 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

About Manhattan Associates

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company's product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.

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