Manhattan Associates, Inc. (NASDAQ:MANH) Stock Has Consensus Target Price of $261.11 According to Brokerages

Key Points

• Analysts have a “Moderate Buy” consensus on Manhattan Associates: eight of 10 covering firms rate it a buy and two rate it a hold. Their average 12-month price target is $261.11.
• The company beat quarterly expectations, reporting adjusted earnings of $1.55 per share versus $1.46 expected and revenue of $306.19 million versus $297.01 million; revenue rose 11% year over year.
• Shares opened at $257.15, near the stock’s 52-week high of $263.47. The company’s market capitalization was about $14.93 billion.

Shares of Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $261.11.

A number of research firms have recently weighed in on MANH. Morgan Stanley upgraded Manhattan Associates from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $180.00 to $250.00 in a report on Monday, October 12th. Truist Financial reiterated a "buy" rating and set a $305.00 price target (up from $240.00) on shares of Manhattan Associates in a report on Wednesday, October 28th. Wall Street Zen downgraded Manhattan Associates from a "buy" rating to a "hold" rating in a report on Sunday, November 1st. DA Davidson increased their price target on Manhattan Associates from $210.00 to $230.00 and gave the company a "neutral" rating in a research report on Wednesday, October 28th. Finally, Stifel Nicolaus raised their price objective on Manhattan Associates from $250.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, October 28th.

Manhattan Associates Trading Up 0.3%

MANH opened at $257.15 on Friday. The company's fifty day moving average price is $224.11 and its two-hundred day moving average price is $170.87. Manhattan Associates has a 1-year low of $119.06 and a 1-year high of $263.47. The company has a market cap of $14.93 billion, a price-to-earnings ratio of 72.03 and a beta of 0.85.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.09. The firm had revenue of $306.19 million for the quarter, compared to analyst estimates of $297.01 million. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The business's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $1.36 earnings per share. As a group, equities analysts forecast that Manhattan Associates will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Linda Hollembaek sold 1,315 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $250.00, for a total value of $328,750.00. Following the completion of the sale, the director owned 10,953 shares in the company, valued at $2,738,250. This represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors have recently added to or reduced their stakes in MANH. Jacobi Capital Management LLC bought a new position in shares of Manhattan Associates during the 3rd quarter worth approximately $52,000. NBH Bank purchased a new position in shares of Manhattan Associates in the 2nd quarter worth approximately $37,000. Versant Capital Management Inc grew its holdings in shares of Manhattan Associates by 508.9% in the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock valued at $38,000 after acquiring an additional 229 shares in the last quarter. Compass Wealth Management LLC bought a new position in shares of Manhattan Associates in the third quarter valued at approximately $69,000. Finally, Root Financial Partners LLC bought a new position in shares of Manhattan Associates in the third quarter valued at approximately $71,000. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Company Profile

Manhattan Associates NASDAQ: MANH develops software and provides services that help businesses manage supply chains, inventory and commerce operations. Its solutions support activities such as warehouse and transportation management, order fulfillment, labor management and coordination of sales across online and physical channels. The company's product portfolio includes Manhattan Active, a cloud-native platform designed to connect supply chain and omnichannel commerce functions. Manhattan Associates serves organizations across industries including retail, manufacturing, wholesale distribution and consumer goods, with customers and operations in markets around the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.