Manhattan Associates (NASDAQ:MANH) Price Target Lowered to $239.00 at Barclays

Manhattan Associates (NASDAQ:MANH) had its target price decreased by equities researchers at Barclays from $244.00 to $239.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Barclays‘s price target indicates a potential upside of 36.35% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. Loop Capital lifted their target price on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a “hold” rating in a research note on Tuesday, July 22nd. Zacks Research lowered shares of Manhattan Associates from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Citigroup reissued a “neutral” rating and set a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Manhattan Associates in a research report on Wednesday, October 8th. Finally, Robert W. Baird lifted their price target on Manhattan Associates from $212.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $222.42.

Manhattan Associates Price Performance

Shares of MANH traded down $0.06 during mid-day trading on Thursday, hitting $175.29. The stock had a trading volume of 285,937 shares, compared to its average volume of 733,938. Manhattan Associates has a 52 week low of $140.81 and a 52 week high of $312.60. The business has a fifty day moving average price of $199.71 and a 200-day moving average price of $199.77. The firm has a market cap of $10.56 billion, a P/E ratio of 50.16 and a beta of 1.08.

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

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in Manhattan Associates by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,928,053 shares of the software maker’s stock worth $380,733,000 after acquiring an additional 1,243,390 shares during the last quarter. Norges Bank purchased a new position in shares of Manhattan Associates during the second quarter worth about $162,545,000. Jacobs Levy Equity Management Inc. increased its position in shares of Manhattan Associates by 1,214.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 606,038 shares of the software maker’s stock worth $104,869,000 after purchasing an additional 559,923 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Manhattan Associates by 101.7% in the first 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 worth $190,415,000 after purchasing an additional 554,840 shares during the last quarter. Finally, Swedbank AB raised its stake in Manhattan Associates by 116.8% in the first quarter. Swedbank AB now owns 800,000 shares of the software maker’s stock valued at $138,432,000 after purchasing an additional 430,981 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

About Manhattan Associates

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.