Citigroup Forecasts Strong Price Appreciation for Manhattan Associates (NASDAQ:MANH) Stock

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its price objective increased by equities researchers at Citigroup from $287.00 to $306.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the software maker's stock. Citigroup's target price points to a potential upside of 1.70% from the company's current price.

MANH has been the topic of several other research reports. Robert W. Baird boosted 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. Raymond James upped their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Loop Capital raised their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Piper Sandler assumed coverage on Manhattan Associates in a research note on Monday, November 25th. They issued an "overweight" rating and a $326.00 price target on the stock. Finally, Truist Financial raised their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $292.89.

Manhattan Associates Price Performance

MANH traded up $2.71 during midday trading on Monday, reaching $300.88. 234,892 shares of the company's stock traded hands, compared to its average volume of 412,545. Manhattan Associates has a 52 week low of $199.23 and a 52 week high of $312.60. The firm has a fifty day moving average of $286.65 and a two-hundred day moving average of $263.13. The stock has a market capitalization of $18.38 billion, a price-to-earnings ratio of 85.48 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share. Sell-side analysts forecast that Manhattan Associates will post 3.39 EPS for the current year.

Insider Transactions at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 22,086 shares of the company's stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares of the company's stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds have recently bought and sold shares of the business. Innealta Capital LLC bought a new stake in shares of Manhattan Associates in the second quarter worth approximately $26,000. International Assets Investment Management LLC bought a new stake in Manhattan Associates in the 2nd quarter worth approximately $27,000. DT Investment Partners LLC purchased a new stake in Manhattan Associates during the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at $31,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Manhattan Associates in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

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.