Stifel Nicolaus Has Lowered Expectations for Manhattan Associates (NASDAQ:MANH) Stock Price

Manhattan Associates (NASDAQ:MANH) had its price objective reduced by research analysts at Stifel Nicolaus from $240.00 to $225.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ target price indicates a potential upside of 29.13% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Morgan Stanley dropped their price objective on shares of Manhattan Associates from $200.00 to $165.00 and set an “equal weight” rating for the company in a research note on Monday, January 5th. Truist Financial set a $240.00 price objective on Manhattan Associates in a report on Thursday, January 15th. Raymond James Financial reduced their price objective on Manhattan Associates from $250.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Barclays reduced their price target on shares of Manhattan Associates from $239.00 to $237.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Associates in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $219.58.

Manhattan Associates Stock Performance

NASDAQ:MANH traded up $4.05 during mid-day trading on Friday, hitting $174.25. 29,240 shares of the company’s stock traded hands, compared to its average volume of 602,859. The company has a market cap of $10.50 billion, a PE ratio of 49.63 and a beta of 1.02. The firm’s 50 day simple moving average is $173.86 and its 200 day simple moving average is $194.09. Manhattan Associates has a 1 year low of $140.81 and a 1 year high of $299.27.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 21st. The software maker reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.18. The company had revenue of $275.80 million during the quarter, compared to analysts’ expectations of $271.66 million. Manhattan Associates had a return on equity of 78.80% and a net margin of 20.25%.The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.35 earnings per share. On average, research analysts expect that Manhattan Associates will post 3.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Manhattan Associates by 1.6% during 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 holdings in shares of Manhattan Associates by 22.7% during the 3rd quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker’s stock valued at $574,334,000 after buying an additional 518,321 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Manhattan Associates by 7.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,077,132 shares of the software maker’s stock valued at $425,771,000 after buying an additional 149,079 shares during the last quarter. Invesco Ltd. grew its stake in shares of Manhattan Associates by 4.1% in the 3rd quarter. Invesco Ltd. now owns 893,264 shares of the software maker’s stock valued at $183,101,000 after buying an additional 35,172 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Manhattan Associates by 0.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 860,869 shares of the software maker’s stock worth $176,461,000 after buying an additional 5,961 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

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.