Manhattan Associates (NASDAQ:MANH) Now Covered by Piper Sandler

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

Other research analysts also recently issued research reports about the company. Raymond James increased 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. DA Davidson increased their target price on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Truist Financial increased their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Robert W. Baird increased their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Citigroup increased their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $290.78.

Manhattan Associates Stock Performance

Shares of MANH opened at $290.74 on Monday. The company has a market capitalization of $17.76 billion, a P/E ratio of 82.60 and a beta of 1.52. Manhattan Associates has a one year low of $199.23 and a one year high of $307.50. The stock has a 50-day moving average price of $281.33 and a 200 day moving average price of $255.41.

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 firm had revenue of $266.70 million during 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%. Manhattan Associates’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 earnings per share. As a group, equities research analysts forecast that Manhattan Associates will post 3.4 earnings per share for the current fiscal year.

Institutional Trading of Manhattan Associates

Hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in Manhattan Associates in the 2nd quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new stake in Manhattan Associates in the 2nd quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new stake in Manhattan Associates in the 2nd quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates in the 2nd quarter valued at approximately $31,000. Finally, Capital Performance Advisors LLP acquired a new stake in Manhattan Associates in the 3rd quarter valued at approximately $34,000. Institutional investors own 98.45% of the company’s stock.

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.