Manhattan Associates, Inc. (NASDAQ:MANH) Receives $231.29 Average Price Target from Brokerages

by · The Cerbat Gem

Manhattan Associates, Inc. (NASDAQ:MANH – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $231.29.

Several research analysts have weighed in on MANH shares. Raymond James upped their price objective on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Truist Financial upped their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Rosenblatt Securities upped their price objective on shares of Manhattan Associates from $215.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Finally, Citigroup assumed coverage on shares of Manhattan Associates in a report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 price objective on the stock.

Read Our Latest Report on MANH

Manhattan Associates Stock Down 0.8 %

Manhattan Associates stock opened at $237.81 on Friday. Manhattan Associates has a 12-month low of $152.32 and a 12-month high of $266.94. The firm’s fifty day moving average is $248.48 and its 200 day moving average is $225.36. The company has a market capitalization of $14.64 billion, a PE ratio of 84.33 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH – Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. The firm had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Sell-side analysts expect that Manhattan Associates will post 2.78 EPS for the current fiscal year.

Insider Activity

In other news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the sale, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the transaction, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Eddie Capel sold 10,897 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Manhattan Associates

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares during the period. Bear Mountain Capital Inc. bought a new position in Manhattan Associates during the fourth quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Manhattan Associates during the fourth quarter worth about $26,000. Contravisory Investment Management Inc. bought a new position in Manhattan Associates during the first quarter worth about $31,000. Finally, Rise Advisors LLC bought a new position in Manhattan Associates during the first quarter worth about $40,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

(Get Free Report

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.

Recommended Stories