Manhattan Associates (NASDAQ:MANH) Price Target Increased to $257.00 by Analysts at Citigroup

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its price objective lifted by equities researchers at Citigroup from $220.00 to $257.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the software maker's stock. Citigroup's price target would suggest a potential upside of 4.18% from the company's previous close.

MANH has been the subject of a number of other research reports. StockNews.com lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, May 27th. William Blair reissued a "market perform" rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Rosenblatt Securities reissued a "neutral" rating and set a $225.00 target price on shares of Manhattan Associates in a research note on Wednesday, April 24th. Redburn Atlantic initiated coverage on shares of Manhattan Associates in a research note on Tuesday, May 14th. They set a "buy" rating and a $260.00 target price for the company. Finally, DA Davidson lifted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, May 16th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $245.13.

Manhattan Associates Stock Down 1.8 %

Manhattan Associates stock traded down $4.53 during mid-day trading on Friday, hitting $246.68. The company's stock had a trading volume of 1,138,356 shares, compared to its average volume of 406,067. The stock's fifty day moving average price is $223.32 and its two-hundred day moving average price is $230.81. Manhattan Associates has a twelve month low of $182.97 and a twelve month high of $266.94. The stock has a market capitalization of $15.19 billion, a P/E ratio of 80.98 and a beta of 1.48.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The software maker reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. The firm had revenue of $254.55 million during the quarter, compared to analyst estimates of $243.32 million. Equities analysts expect that Manhattan Associates will post 2.72 earnings per share for the current year.

Institutional Investors Weigh In On Manhattan Associates

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Manhattan Associates by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker's stock worth $1,669,365,000 after acquiring an additional 58,905 shares during the period. Morgan Stanley raised its holdings in Manhattan Associates by 0.9% in the 3rd quarter. Morgan Stanley now owns 1,522,444 shares of the software maker's stock worth $300,927,000 after acquiring an additional 13,303 shares during the period. Franklin Resources Inc. raised its holdings in Manhattan Associates by 16.8% in the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker's stock worth $187,967,000 after acquiring an additional 125,541 shares during the period. Norges Bank bought a new position in Manhattan Associates in the 4th quarter worth $146,984,000. Finally, TD Asset Management Inc raised its holdings in Manhattan Associates by 10.5% in the 1st quarter. TD Asset Management Inc now owns 607,167 shares of the software maker's stock worth $151,931,000 after acquiring an additional 57,859 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

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.