DA Davidson Reiterates "Buy" Rating for Manhattan Associates (NASDAQ:MANH)

Key Points

• DA Davidson reiterated its Buy rating on Manhattan Associates and kept a $200 price target, implying about 48.6% upside from the current share price.
• Manhattan Associates reported better-than-expected quarterly results, with EPS of $1.24 versus estimates of $1.10 and revenue of $282.2 million, up 7.4% year over year.
• The company also authorized a $500 million share buyback, while institutional ownership remains very high at 98.45% despite a recent insider sale by EVP James Stewart Gantt.

Manhattan Associates (NASDAQ:MANH - Get Free Report)'s stock had its "buy" rating restated by research analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They currently have a $200.00 target price on the software maker's stock. DA Davidson's price target suggests a potential upside of 48.63% from the stock's current price.

A number of other equities analysts also recently issued reports on MANH. Weiss Ratings downgraded Manhattan Associates from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 27th. William Blair restated an "outperform" rating on shares of Manhattan Associates in a research report on Thursday, March 5th. Citigroup lowered their price objective on Manhattan Associates from $208.00 to $177.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. Stifel Nicolaus set a $200.00 price objective on Manhattan Associates in a research report on Wednesday. Finally, Wall Street Zen upgraded Manhattan Associates from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $202.91.

Manhattan Associates Stock Down 0.6%

Shares of MANH stock traded down $0.86 during mid-day trading on Wednesday, reaching $134.56. 144,646 shares of the stock traded hands, compared to its average volume of 772,627. The stock's fifty day simple moving average is $135.78 and its two-hundred day simple moving average is $154.75. Manhattan Associates has a 1-year low of $119.06 and a 1-year high of $247.22. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 37.73 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The software maker reported $1.24 EPS for the quarter, beating 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 analyst estimates of $273.71 million. During the same period last year, the firm posted $1.19 earnings per share. The business's revenue for the quarter was up 7.4% on a year-over-year basis. Manhattan Associates has set its FY 2026 guidance at 5.290-5.370 EPS. On average, equities research analysts anticipate that Manhattan Associates will post 3.75 EPS for the current fiscal year.

Manhattan Associates announced that its Board of Directors has authorized a share buyback program on Thursday, March 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the software maker to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 7,300 shares of Manhattan Associates stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $139.25, for a total value of $1,016,525.00. Following the completion of the sale, the executive vice president directly owned 60,815 shares in the company, valued at approximately $8,468,488.75. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Manhattan Associates

A number of hedge funds have recently added to or reduced their stakes in MANH. Norges Bank bought a new stake in Manhattan Associates in the fourth quarter worth approximately $124,264,000. T. Rowe Price Investment Management Inc. grew its stake in Manhattan Associates by 35.2% in the fourth 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 acquiring an additional 671,589 shares during the period. Alliancebernstein L.P. grew its stake in Manhattan Associates by 22.7% in the third quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker's stock valued at $574,334,000 after acquiring an additional 518,321 shares during the period. Amundi grew its stake in Manhattan Associates by 479.4% in the first quarter. Amundi now owns 454,095 shares of the software maker's stock valued at $60,449,000 after acquiring an additional 375,719 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Manhattan Associates by 86.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 676,034 shares of the software maker's stock valued at $138,573,000 after acquiring an additional 312,858 shares during the period. 98.45% of the stock is currently owned by institutional investors.

About Manhattan Associates

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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