Citigroup Forecasts Strong Price Appreciation for Manhattan Associates (NASDAQ:MANH) Stock

Manhattan Associates (NASDAQ:MANH) had its price objective boosted by Citigroup from $287.00 to $306.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

A number of other analysts also recently issued reports on MANH. DA Davidson lifted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Piper Sandler initiated coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 price target on the stock. Truist Financial raised their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Raymond James upped their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $292.89.

Manhattan Associates Trading Up 0.9 %

MANH stock opened at $300.88 on Monday. The stock has a 50-day moving average price of $286.65 and a two-hundred day moving average price of $263.13. Manhattan Associates has a 1 year low of $199.23 and a 1 year high of $312.60. The stock has a market cap of $18.38 billion, a PE ratio of 85.48 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same period last year, the company earned $0.79 earnings per share. Manhattan Associates’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that Manhattan Associates will post 3.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds have recently bought and sold shares of MANH. Massachusetts Financial Services Co. MA acquired a new position in shares of Manhattan Associates in the third quarter valued at approximately $234,249,000. Fiera Capital Corp bought a new stake in Manhattan Associates in the 2nd quarter valued at $44,705,000. Squarepoint Ops LLC grew its holdings in Manhattan Associates by 448.9% in the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock valued at $39,629,000 after buying an additional 131,381 shares in the last quarter. FMR LLC grew its holdings in Manhattan Associates by 7.3% in the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after buying an additional 130,817 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Manhattan Associates by 118.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after buying an additional 94,283 shares during the period. 98.45% of the stock is currently 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.