Manhattan Associates (NASDAQ:MANH) Stock Rating Upgraded by DA Davidson

Manhattan Associates (NASDAQ:MANH - Get Free Report) was upgraded by DA Davidson to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on MANH. 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 report on Wednesday, July 16th. Citigroup reissued a "neutral" rating and set a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Truist Financial raised their price target 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. Redburn Atlantic lowered shares of Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Finally, Loop Capital raised their price target on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of "Moderate Buy" and an average target price of $213.89.

Manhattan Associates Price Performance

MANH stock opened at $202.79 on Tuesday. The company has a market capitalization of $12.31 billion, a PE ratio of 57.94 and a beta of 1.08. The firm's 50-day moving average is $193.79 and its 200 day moving average is $194.40. Manhattan Associates has a 12 month low of $140.81 and a 12 month high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a net margin of 20.67% and a return on equity of 83.52%. The business had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. During the same quarter last year, the firm posted $1.18 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts forecast that Manhattan Associates will post 3.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Manhattan Associates

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

About Manhattan Associates

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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