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

Piper Sandler began coverage on shares of Manhattan Associates (NASDAQ:MANH) in a report released on Monday, MarketBeat reports. The firm issued an overweight rating and a $326.00 target price on the software maker’s stock.

Other analysts have also recently issued reports about the stock. Citigroup increased their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Raymond James increased their price target on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Loop Capital boosted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. DA Davidson upped their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial lifted their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.78.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $287.68 on Monday. The business’s fifty day moving average is $281.65 and its 200 day moving average is $255.91. Manhattan Associates has a fifty-two week low of $199.23 and a fifty-two week high of $307.50. The company has a market capitalization of $17.57 billion, a PE ratio of 80.91 and a beta of 1.52.

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

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MANH. Optimist Retirement Group LLC increased its stake in Manhattan Associates by 9.0% in the 3rd quarter. Optimist Retirement Group LLC now owns 916 shares of the software maker’s stock worth $258,000 after acquiring an additional 76 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Manhattan Associates during the third quarter valued at $502,000. Sanctuary Advisors LLC raised its stake in Manhattan Associates by 13.1% during the third quarter. Sanctuary Advisors LLC now owns 6,398 shares of the software maker’s stock valued at $1,794,000 after purchasing an additional 743 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in Manhattan Associates by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 5,120 shares of the software maker’s stock valued at $1,441,000 after purchasing an additional 102 shares during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in shares of Manhattan Associates in the 3rd quarter worth $208,000. 98.45% of the stock is owned by institutional investors.

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.