Manhattan Associates (NASDAQ:MANH) Price Target Raised to $240.00 at Truist Financial

Manhattan Associates (NASDAQ:MANH) had its price target increased by research analysts at Truist Financial from $230.00 to $240.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Truist Financial’s price objective suggests a potential upside of 39.10% from the stock’s current price.

Several other analysts have also issued reports on the company. Raymond James Financial dropped their target price on Manhattan Associates from $250.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. UBS Group set a $240.00 price objective on Manhattan Associates in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Manhattan Associates in a research note on Wednesday, October 8th. DA Davidson set a $250.00 target price on shares of Manhattan Associates in a report on Wednesday, October 22nd. Finally, Zacks Research cut shares of Manhattan Associates from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.33.

Manhattan Associates Stock Up 3.1%

Shares of NASDAQ:MANH traded up $5.26 during mid-day trading on Monday, reaching $172.54. 121,231 shares of the stock were exchanged, compared to its average volume of 327,809. Manhattan Associates has a one year low of $140.81 and a one year high of $299.27. The stock’s 50 day simple moving average is $175.99 and its 200-day simple moving average is $196.36. The company has a market cap of $10.40 billion, a P/E ratio of 49.36 and a beta of 1.02.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 21st. The software maker reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.18. The company had revenue of $275.80 million for the quarter, compared to the consensus estimate of $271.66 million. Manhattan Associates had a net margin of 20.25% and a return on equity of 78.80%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.35 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. Analysts anticipate that Manhattan Associates will post 3.3 EPS for the current fiscal year.

Institutional Trading of Manhattan Associates

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Manhattan Associates by 1.6% in the third quarter. Vanguard Group Inc. now owns 6,820,320 shares of the software maker’s stock valued at $1,398,029,000 after purchasing an additional 108,426 shares during the last quarter. Alliancebernstein L.P. lifted its position in Manhattan Associates by 22.7% during the third quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker’s stock worth $574,334,000 after purchasing an additional 518,321 shares during the period. AQR Capital Management LLC grew its stake in Manhattan Associates by 7.7% during the third quarter. AQR Capital Management LLC now owns 2,077,132 shares of the software maker’s stock worth $425,771,000 after buying an additional 149,079 shares in the last quarter. Swedbank AB increased its holdings in Manhattan Associates by 50.0% in the 2nd quarter. Swedbank AB now owns 1,199,969 shares of the software maker’s stock valued at $236,958,000 after buying an additional 399,969 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Manhattan Associates by 101.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,100,410 shares of the software maker’s stock valued at $190,415,000 after buying an additional 554,840 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.