Brokerages Set Manhattan Associates, Inc. (NASDAQ:MANH) Target Price at $240.50

Manhattan Associates, Inc. (NASDAQ:MANH) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $240.50.

MANH has been the subject of several recent research reports. William Blair restated a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, May 27th. Citigroup cut their price target on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, Redburn Atlantic initiated coverage on Manhattan Associates in a research note on Tuesday, May 14th. They set a “buy” rating and a $260.00 target price on the stock.

Manhattan Associates Price Performance

NASDAQ MANH opened at $240.11 on Friday. The company has a market capitalization of $14.78 billion, a price-to-earnings ratio of 78.47 and a beta of 1.48. Manhattan Associates has a 12 month low of $182.97 and a 12 month high of $266.94. The company’s fifty day moving average price is $222.24 and its two-hundred day moving average price is $230.33.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.23. The business had revenue of $254.55 million for the quarter, compared to analyst estimates of $243.32 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, analysts anticipate that Manhattan Associates will post 2.72 EPS for the current year.

Institutional Investors Weigh In On Manhattan Associates

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in Manhattan Associates by 259.4% in the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after buying an additional 83 shares in the last quarter. Tobam bought a new stake in shares of Manhattan Associates in the 1st quarter worth about $25,000. Bear Mountain Capital Inc. acquired a new stake in shares of Manhattan Associates during the 4th quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Manhattan Associates during the 4th quarter valued at about $26,000. Finally, Benjamin Edwards Inc. acquired a new position in Manhattan Associates in the first quarter valued at about $27,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Company Profile

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.