Loop Capital Boosts Manhattan Associates (NASDAQ:MANH) Price Target to $285.00

by · The Markets Daily

Manhattan Associates (NASDAQ:MANH – Free Report) had its price target lifted by Loop Capital from $265.00 to $285.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

A number of other analysts have also issued reports on the stock. DA Davidson raised their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Citigroup raised their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a neutral rating in a research report on Friday, June 28th. Finally, StockNews.com lowered shares of Manhattan Associates from a buy rating to a hold rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $260.29.

Check Out Our Latest Analysis on Manhattan Associates

Manhattan Associates Price Performance

MANH stock opened at $269.20 on Monday. The company’s 50 day simple moving average is $251.12 and its 200-day simple moving average is $239.94. The firm has a market capitalization of $16.57 billion, a PE ratio of 88.54 and a beta of 1.50. Manhattan Associates has a 12 month low of $182.97 and a 12 month high of $276.99.

Manhattan Associates (NASDAQ:MANH – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating the consensus estimate of $0.96 by $0.22. The business had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share. As a group, sell-side analysts anticipate that Manhattan Associates will post 3.01 earnings per share for the current year.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds have recently made changes to their positions in the business. Tobam purchased a new position in shares of Manhattan Associates in the 1st quarter valued at $25,000. Innealta Capital LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at $26,000. Benjamin Edwards Inc. purchased a new position in shares of Manhattan Associates in the 1st quarter valued at $27,000. International Assets Investment Management LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at $27,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Manhattan Associates in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

(Get Free Report)

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.

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