Manhattan Associates (NASDAQ:MANH) Price Target Raised to $230.00 at Truist Financial

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its price objective raised by equities researchers at Truist Financial from $210.00 to $230.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. Truist Financial's price objective would suggest a potential upside of 4.41% from the stock's previous close.

MANH has been the topic of a number of other reports. 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 objective on the stock. Robert W. Baird boosted their price target on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Loop Capital raised their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research note on Tuesday. Finally, DA Davidson raised Manhattan Associates to a "strong-buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $216.67.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded up $2.57 during trading hours on Wednesday, hitting $220.28. The stock had a trading volume of 1,156,966 shares, compared to its average volume of 570,585. The stock's fifty day simple moving average is $194.26 and its 200 day simple moving average is $194.56. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of 61.53 and a beta of 1.08. Manhattan Associates has a 1-year low of $140.81 and a 1-year high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The business had revenue of $272.42 million during the quarter, compared to analyst estimates of $263.62 million. During the same period in the prior year, the company posted $1.18 EPS. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that Manhattan Associates will post 3.3 EPS for the current year.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors and hedge funds have recently modified their holdings of MANH. DAVENPORT & Co LLC acquired a new stake in shares of Manhattan Associates during the first quarter worth $214,000. Prudential PLC increased its stake in Manhattan Associates by 40.0% in the 4th quarter. Prudential PLC now owns 23,936 shares of the software maker's stock worth $6,468,000 after purchasing an additional 6,835 shares in the last quarter. SG Americas Securities LLC raised its holdings in Manhattan Associates by 876.3% during the 1st quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock worth $1,318,000 after buying an additional 6,835 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Manhattan Associates during the 4th quarter worth about $703,000. Finally, Vanguard Group Inc. lifted its stake in Manhattan Associates by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock valued at $1,811,299,000 after buying an additional 50,538 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

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.