Manhattan Associates (NASDAQ:MANH) Given New $200.00 Price Target at Loop Capital

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its target price lifted by equities researchers at Loop Capital from $170.00 to $200.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "hold" rating on the software maker's stock. Loop Capital's price target points to a potential downside of 1.38% from the stock's previous close.

Several other equities analysts also recently commented on the stock. Truist Financial increased their target price on shares of Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley began coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 price target for the company. Citigroup restated a "neutral" rating and set a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Robert W. Baird raised their price target on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Finally, Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and cut their price target for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $213.89.

Manhattan Associates Price Performance

Shares of MANH stock traded up $3.06 on Tuesday, hitting $202.79. The stock had a trading volume of 641,989 shares, compared to its average volume of 636,743. The company's 50 day moving average price is $193.57 and its 200-day moving average price is $194.85. Manhattan Associates has a 1 year low of $140.81 and a 1 year high of $312.60. The firm has a market capitalization of $12.31 billion, a P/E ratio of 57.94 and a beta of 1.08.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $0.97 earnings per share for the quarter, missing analysts' consensus estimates of $1.12 by ($0.15). Manhattan Associates had a return on equity of 83.52% and a net margin of 20.67%. On average, equities analysts forecast that Manhattan Associates will post 3.3 EPS for the current year.

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds have recently modified their holdings of the company. HighTower Advisors LLC increased its stake in Manhattan Associates by 3.1% in the 4th quarter. HighTower Advisors LLC now owns 5,156 shares of the software maker's stock worth $1,393,000 after buying an additional 154 shares during the period. Commonwealth Equity Services LLC increased its holdings in Manhattan Associates by 23.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 972 shares of the software maker's stock worth $263,000 after acquiring an additional 186 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Manhattan Associates by 9.7% during the 4th quarter. Corient Private Wealth LLC now owns 4,575 shares of the software maker's stock worth $1,236,000 after purchasing an additional 404 shares during the last quarter. Royal London Asset Management Ltd. acquired a new position in shares of Manhattan Associates during the 4th quarter valued at about $919,000. Finally, Virtu Financial LLC acquired a new position in shares of Manhattan Associates during the 4th quarter valued at about $789,000. 98.45% of the stock is currently owned by institutional investors.

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.

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