Barclays Lowers Manhattan Associates (NASDAQ:MANH) Price Target to $201.00

Key Points

• Barclays cut its price target on Manhattan Associates from $239 to $201, while maintaining an overweight rating. The new target still implies about 34% upside from the stock’s current price.
• Wall Street sentiment remains fairly positive, with eight Buy ratings, four Holds, and one Sell. The consensus target price across analysts is $199.45.
• Manhattan Associates reported solid quarterly results, beating EPS and revenue expectations, and it also authorized a $500 million share buyback. The company said the repurchase plan could cover up to about 5.8% of outstanding shares.

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its price target dropped by Barclays from $239.00 to $201.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the software maker's stock. Barclays's price objective indicates a potential upside of 33.96% from the company's current price.

MANH has been the topic of a number of other research reports. Rothschild & Co Redburn set a $145.00 price target on shares of Manhattan Associates in a research note on Thursday, April 16th. Stifel Nicolaus set a $200.00 price target on shares of Manhattan Associates in a research note on Wednesday, May 20th. William Blair reiterated an "outperform" rating on shares of Manhattan Associates in a research note on Thursday, March 5th. DA Davidson reiterated a "buy" rating and issued a $200.00 price target on shares of Manhattan Associates in a research note on Wednesday, May 20th. Finally, Citigroup dropped their price target on shares of Manhattan Associates from $208.00 to $177.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $199.45.

Manhattan Associates Stock Performance

Shares of MANH traded up $6.87 during mid-day trading on Friday, reaching $150.05. The company had a trading volume of 908,698 shares, compared to its average volume of 765,960. The firm has a 50-day moving average price of $135.16 and a 200 day moving average price of $152.75. Manhattan Associates has a 52 week low of $119.06 and a 52 week high of $247.22. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 42.03 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The software maker reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. Manhattan Associates had a return on equity of 78.13% and a net margin of 19.68%.The firm had revenue of $282.22 million for the quarter, compared to analysts' expectations of $273.71 million. During the same period in the previous year, the firm posted $1.19 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. Manhattan Associates has set its FY 2026 guidance at 5.290-5.370 EPS. As a group, research analysts forecast that Manhattan Associates will post 3.75 earnings per share for the current fiscal year.

Manhattan Associates declared that its board has initiated a stock buyback plan on Thursday, March 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 5.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 7,300 shares of the company's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $139.25, for a total transaction of $1,016,525.00. Following the transaction, the executive vice president owned 60,815 shares in the company, valued at approximately $8,468,488.75. This represents a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently modified their holdings of MANH. Norges Bank bought a new position in shares of Manhattan Associates during the 4th quarter valued at $124,264,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker's stock valued at $447,182,000 after buying an additional 671,589 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Manhattan Associates by 22.7% during the 3rd 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 period. Amundi lifted its stake in shares of Manhattan Associates by 479.4% in the 1st quarter. Amundi now owns 454,095 shares of the software maker's stock worth $60,449,000 after purchasing an additional 375,719 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of Manhattan Associates by 76.4% in the 3rd quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker's stock worth $145,073,000 after purchasing an additional 306,516 shares during the period. 98.45% of the stock is owned by 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.

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