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

Stock analysts at Piper Sandler initiated coverage on shares of Manhattan Associates (NASDAQ:MANH) in a research note issued on Monday, Marketbeat reports. The firm set an “overweight” rating and a $326.00 price target on the software maker’s stock. Piper Sandler’s target price suggests a potential upside of 12.82% from the company’s previous close.

MANH has been the subject of several other research reports. Raymond James lifted their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Citigroup lifted their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $290.78.

Manhattan Associates Stock Down 0.6 %

Shares of NASDAQ MANH opened at $288.95 on Monday. Manhattan Associates has a fifty-two week low of $199.23 and a fifty-two week high of $307.50. The business has a 50 day moving average price of $281.33 and a two-hundred day moving average price of $255.41. The firm has a market cap of $17.65 billion, a PE ratio of 81.93 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. During the same quarter last year, the firm earned $0.79 EPS. Manhattan Associates’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts anticipate that Manhattan Associates will post 3.4 earnings per share for the current year.

Institutional Trading of Manhattan Associates

Several hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at $26,000. International Assets Investment Management LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at $27,000. DT Investment Partners LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at $31,000. Finally, Capital Performance Advisors LLP bought a new stake in Manhattan Associates during the 3rd quarter valued at $34,000. 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.