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

Equities researchers at Piper Sandler began coverage on shares of Manhattan Associates (NASDAQ:MANH) in a research note issued on Monday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $326.00 price target on the software maker’s stock. Piper Sandler’s target price suggests a potential upside of 16.26% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James lifted their price target on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial raised their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $290.78.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $280.40 on Monday. Manhattan Associates has a 52 week low of $199.23 and a 52 week high of $307.50. The company’s 50 day moving average price is $280.92 and its two-hundred day moving average price is $254.89. The company has a market capitalization of $17.13 billion, a P/E ratio of 79.66 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. During the same period in the previous year, the company posted $0.79 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts forecast that Manhattan Associates will post 3.4 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in shares of Manhattan Associates in the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates in the second quarter valued at $27,000. DT Investment Partners LLC purchased a new position in shares of Manhattan Associates during the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Manhattan Associates during the 2nd quarter worth $31,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Manhattan Associates during the 3rd quarter worth $34,000. 98.45% of the stock is currently owned by hedge funds and other 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.