Citigroup Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $200.00

Manhattan Associates (NASDAQ:MANH) had its target price reduced by Citigroup from $204.00 to $200.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. Citigroup’s price objective suggests a potential upside of 15.34% from the stock’s current price.

A number of other research firms also recently weighed in on MANH. DA Davidson set a $250.00 price objective on Manhattan Associates in a report on Wednesday, October 22nd. Morgan Stanley set a $200.00 price objective on Manhattan Associates and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. Barclays lowered their target price on shares of Manhattan Associates from $244.00 to $239.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Raymond James Financial cut their price target on shares of Manhattan Associates from $250.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Manhattan Associates in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $222.42.

Manhattan Associates Trading Down 1.5%

Shares of MANH traded down $2.69 during mid-day trading on Tuesday, reaching $173.40. The company’s stock had a trading volume of 115,310 shares, compared to its average volume of 712,136. The business has a 50-day simple moving average of $180.27 and a two-hundred day simple moving average of $197.48. Manhattan Associates has a 1-year low of $140.81 and a 1-year high of $299.27. The stock has a market cap of $10.45 billion, a P/E ratio of 49.36 and a beta of 1.02.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 21st. The software maker reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.18. Manhattan Associates had a return on equity of 78.80% and a net margin of 20.25%.The firm had revenue of $275.80 million for the quarter, compared to analysts’ expectations of $271.66 million. During the same quarter last year, the business earned $1.35 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. Research analysts anticipate that Manhattan Associates will post 3.3 EPS for the current year.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds have recently bought and sold shares of the business. Capital Fund Management S.A. raised its stake in Manhattan Associates by 45.4% in the 2nd quarter. Capital Fund Management S.A. now owns 127,059 shares of the software maker’s stock valued at $25,090,000 after purchasing an additional 39,699 shares during the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Manhattan Associates by 16.1% during the second quarter. Epoch Investment Partners Inc. now owns 318,528 shares of the software maker’s stock worth $62,900,000 after buying an additional 44,104 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Manhattan Associates in the second quarter valued at about $3,339,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Manhattan Associates in the second quarter valued at about $27,073,000. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of Manhattan Associates by 73.3% in the second quarter. Segall Bryant & Hamill LLC now owns 70,226 shares of the software maker’s stock worth $13,868,000 after buying an additional 29,696 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.