Manhattan Associates, Inc. (NASDAQ:MANH) Receives $245.13 Average Target Price from Brokerages

Manhattan Associates, Inc. (NASDAQ:MANH) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $248.86.

Several equities analysts have commented on the stock. Redburn Atlantic assumed coverage on shares of Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price target for the company. Citigroup increased their price target on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. DA Davidson upped their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Finally, StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, May 27th.

Manhattan Associates Stock Performance

Shares of MANH opened at $225.15 on Tuesday. The company’s 50-day simple moving average is $231.63 and its 200-day simple moving average is $233.68. Manhattan Associates has a 1 year low of $182.97 and a 1 year high of $266.94. The stock has a market capitalization of $13.86 billion, a PE ratio of 73.58 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. The firm had revenue of $254.55 million for the quarter, compared to the consensus estimate of $243.32 million. On average, sell-side analysts predict that Manhattan Associates will post 2.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MANH. Blue Trust Inc. boosted its stake in shares of Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after buying an additional 83 shares during the period. Tobam purchased a new stake in Manhattan Associates during the 1st quarter valued at approximately $25,000. Bear Mountain Capital Inc. acquired a new stake in Manhattan Associates during the 4th quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Manhattan Associates in the 4th quarter valued at approximately $26,000. Finally, Benjamin Edwards Inc. purchased a new position in shares of Manhattan Associates in the 1st quarter valued at approximately $27,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.