DA Davidson Issues Pessimistic Forecast for Manhattan Associates (NASDAQ:MANH) Stock Price

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its price target dropped by analysts at DA Davidson from $315.00 to $270.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. DA Davidson's price target would indicate a potential upside of 21.16% from the stock's previous close.

Several other brokerages have also issued reports on MANH. Truist Financial cut their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday. Citigroup reduced their price objective on Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating on the stock in a research report on Monday. Raymond James dropped their target price on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research report on Wednesday. Robert W. Baird increased their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $274.44.

Manhattan Associates Trading Down 24.5 %

Shares of NASDAQ MANH traded down $72.26 during midday trading on Wednesday, hitting $222.84. 3,261,970 shares of the company's stock were exchanged, compared to its average volume of 511,383. The business's fifty day moving average price is $283.17 and its two-hundred day moving average price is $272.29. The company has a market cap of $13.61 billion, a price-to-earnings ratio of 63.31 and a beta of 1.52. Manhattan Associates has a 12-month low of $205.12 and a 12-month high of $312.60.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares of the company's stock, valued at $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Institutional Trading of Manhattan Associates

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Manhattan Associates in the third quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new stake in Manhattan Associates during the 4th quarter valued at $35,000. Ashton Thomas Securities LLC purchased a new stake in shares of Manhattan Associates during the 3rd quarter worth $42,000. Carolina Wealth Advisors LLC purchased a new position in Manhattan Associates in the third quarter valued at about $50,000. Finally, Brooklyn Investment Group bought a new position in Manhattan Associates in the third quarter worth about $58,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.

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