Manhattan Associates (NASDAQ:MANH) Stock Rating Upgraded by DA Davidson

Manhattan Associates (NASDAQ:MANH) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report issued on Thursday, MarketBeat.com reports. The firm currently has a $240.00 price target on the software maker’s stock, up from their prior price target of $220.00. DA Davidson’s target price would suggest a potential upside of 14.82% from the company’s current price. DA Davidson also issued estimates for Manhattan Associates’ Q2 2024 earnings at $0.70 EPS, FY2024 earnings at $2.90 EPS and FY2025 earnings at $3.60 EPS.

Several other brokerages have also weighed in on MANH. Raymond James boosted their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Citigroup decreased their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday. Rosenblatt Securities reiterated a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday. Finally, Truist Financial upped their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Manhattan Associates Stock Up 0.3 %

NASDAQ MANH opened at $209.02 on Thursday. The stock has a market cap of $12.87 billion, a PE ratio of 68.31 and a beta of 1.44. Manhattan Associates has a fifty-two week low of $164.55 and a fifty-two week high of $266.94. The business has a 50 day moving average price of $244.34 and a two-hundred day moving average price of $226.79.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The firm had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. Sell-side analysts anticipate that Manhattan Associates will post 2.81 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds have recently modified their holdings of the stock. CWM LLC boosted its stake in Manhattan Associates by 22.0% in the 3rd quarter. CWM LLC now owns 997 shares of the software maker’s stock worth $197,000 after purchasing an additional 180 shares during the period. AE Wealth Management LLC lifted its stake in Manhattan Associates by 119.8% in the 3rd quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock worth $647,000 after acquiring an additional 1,783 shares in the last quarter. IFP Advisors Inc boosted its position in Manhattan Associates by 6.4% during the 3rd quarter. IFP Advisors Inc now owns 1,250 shares of the software maker’s stock worth $247,000 after acquiring an additional 75 shares during the period. Global Retirement Partners LLC grew its stake in Manhattan Associates by 59.2% during the 3rd quarter. Global Retirement Partners LLC now owns 581 shares of the software maker’s stock valued at $116,000 after acquiring an additional 216 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Manhattan Associates by 61.5% in the 3rd quarter. SG Americas Securities LLC now owns 9,287 shares of the software maker’s stock valued at $1,836,000 after purchasing an additional 3,537 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.