Manhattan Associates (NASDAQ:MANH) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of Manhattan Associates (NASDAQ:MANH) in a report published on Monday morning, MarketBeat reports. The firm issued an overweight rating and a $326.00 price objective on the software maker’s stock.

A number of other equities analysts have also recently weighed in on the company. Robert W. Baird boosted their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Truist Financial upped their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. DA Davidson raised their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Loop Capital boosted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Citigroup raised their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus target price of $290.78.

Manhattan Associates Stock Performance

MANH opened at $287.68 on Monday. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 81.73 and a beta of 1.52. Manhattan Associates has a one year low of $199.23 and a one year high of $307.50. The business’s fifty day moving average is $282.02 and its two-hundred day moving average is $256.13.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same period in the previous year, the firm earned $0.79 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts predict that Manhattan Associates will post 3.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors have recently added to or reduced their stakes in the company. Optimist Retirement Group LLC lifted its position in Manhattan Associates by 9.0% during the third quarter. Optimist Retirement Group LLC now owns 916 shares of the software maker’s stock valued at $258,000 after buying an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Manhattan Associates during the 3rd quarter valued at $502,000. Sanctuary Advisors LLC boosted its position in Manhattan Associates by 13.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 6,398 shares of the software maker’s stock worth $1,794,000 after purchasing an additional 743 shares during the period. SkyView Investment Advisors LLC increased its holdings in Manhattan Associates by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 5,120 shares of the software maker’s stock valued at $1,441,000 after purchasing an additional 102 shares in the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in Manhattan Associates in the third quarter valued at about $208,000. Hedge funds and other institutional investors 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.