Manhattan Associates (NASDAQ:MANH) Price Target Increased to $285.00 by Analysts at Loop Capital

Manhattan Associates (NASDAQ:MANH) had its price target raised by Loop Capital from $265.00 to $285.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Loop Capital’s target price would indicate a potential upside of 6.53% from the stock’s previous close.

MANH has been the topic of a number of other research reports. DA Davidson upped their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup increased their target price on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $260.29.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded up $3.79 during midday trading on Monday, hitting $267.53. 148,952 shares of the company’s stock traded hands, compared to its average volume of 406,155. Manhattan Associates has a twelve month low of $182.97 and a twelve month high of $268.89. The firm’s fifty day moving average price is $250.03 and its two-hundred day moving average price is $239.71. The company has a market cap of $16.47 billion, a PE ratio of 87.05 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. During the same period in the previous year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Manhattan Associates will post 3.01 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently bought and sold shares of MANH. Tobam acquired a new position in shares of Manhattan Associates in the first quarter worth $25,000. Innealta Capital LLC acquired a new stake in Manhattan Associates during the second quarter valued at $26,000. Benjamin Edwards Inc. purchased a new position in Manhattan Associates in the first quarter valued at about $27,000. International Assets Investment Management LLC acquired a new position in Manhattan Associates in the 2nd quarter worth about $27,000. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Manhattan Associates during the 1st quarter worth about $31,000. Hedge funds and other 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.