Brokerages Set Manhattan Associates, Inc. (NASDAQ:MANH) Target Price at $286.38

Shares of Manhattan Associates, Inc. (NASDAQ:MANH) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $286.38.

A number of brokerages have recently commented on MANH. Loop Capital raised their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. DA Davidson upped their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup raised their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Truist Financial lifted their price target on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $275.70 on Thursday. The firm’s fifty day moving average is $274.95 and its two-hundred day moving average is $247.04. The firm has a market cap of $16.89 billion, a price-to-earnings ratio of 78.32 and a beta of 1.50. Manhattan Associates has a one year low of $186.77 and a one year high of $307.50.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. The firm had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 86.65% and a net margin of 21.38%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. As a group, equities research analysts predict that Manhattan Associates will post 3.01 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Large investors have recently modified their holdings of the business. Tobam purchased a new position in Manhattan Associates in the 1st quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in Manhattan Associates during the second quarter worth $26,000. International Assets Investment Management LLC purchased a new stake in Manhattan Associates in the 2nd quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Manhattan Associates in the 2nd quarter worth $31,000. Finally, DT Investment Partners LLC purchased a new position in shares of Manhattan Associates during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.