Manhattan Associates (NASDAQ:MANH) Price Target Raised to $250.00

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its target price raised by Raymond James Financial from $195.00 to $250.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the software maker's stock. Raymond James Financial's price objective indicates a potential upside of 14.05% from the company's current price.

A number of other research analysts also recently issued reports on the company. Loop Capital boosted their price objective on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research note on Tuesday. Citigroup reiterated a "neutral" rating and set a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Robert W. Baird upped their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Morgan Stanley initiated coverage on shares of Manhattan Associates in a report on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective on the stock. Finally, Redburn Atlantic downgraded Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $216.67.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded down $1.09 during midday trading on Wednesday, reaching $219.20. The stock had a trading volume of 69,228 shares, compared to its average volume of 827,061. The firm has a market cap of $13.31 billion, a price-to-earnings ratio of 61.23 and a beta of 1.08. Manhattan Associates has a twelve month low of $140.81 and a twelve month high of $312.60. The company's 50 day moving average price is $194.26 and its 200 day moving average price is $194.56.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.19. The business had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. Manhattan Associates's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. Equities analysts forecast that Manhattan Associates will post 3.3 earnings per share for the current fiscal year.

Institutional Trading of Manhattan Associates

Several institutional investors and hedge funds have recently modified their holdings of the stock. Central Pacific Bank Trust Division raised its position in Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after buying an additional 103 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in Manhattan Associates in the 4th quarter valued at $38,000. Transce3nd LLC purchased a new stake in shares of Manhattan Associates in the fourth quarter valued at about $41,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Manhattan Associates by 117.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 230 shares of the software maker's stock valued at $45,000 after purchasing an additional 124 shares during the last quarter. Finally, Brooklyn Investment Group raised its holdings in shares of Manhattan Associates by 70.1% in the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after purchasing an additional 148 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other 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.