Loop Capital Increases Manhattan Associates (NASDAQ:MANH) Price Target to $265.00

Manhattan Associates (NASDAQ:MANH) had its target price lifted by Loop Capital from $250.00 to $265.00 in a report published on Wednesday morning, Benzinga reports. Loop Capital currently has a buy rating on the software maker’s stock.

Other equities analysts have also recently issued reports about the company. DA Davidson raised their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a buy rating in a report on Wednesday. StockNews.com cut Manhattan Associates from a buy rating to a hold rating in a report on Monday, May 27th. Rosenblatt Securities reissued a neutral rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. Redburn Atlantic started coverage on Manhattan Associates in a research note on Tuesday, May 14th. They issued a buy rating and a $260.00 price target on the stock. Finally, William Blair reaffirmed a market perform rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $257.43.

Manhattan Associates Trading Up 4.7 %

Shares of MANH opened at $258.46 on Wednesday. The company has a market cap of $15.91 billion, a PE ratio of 84.46 and a beta of 1.50. The stock has a 50-day moving average price of $233.36 and a 200-day moving average price of $234.46. Manhattan Associates has a 12-month low of $182.97 and a 12-month high of $266.94.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. The company had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. Manhattan Associates’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. As a group, analysts predict that Manhattan Associates will post 3.04 earnings per share for the current year.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC increased its stake in shares of Manhattan Associates by 28.8% during the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock valued at $44,000 after buying an additional 46 shares during the period. Accurate Wealth Management LLC increased its stake in shares of Manhattan Associates by 4.1% during the first quarter. Accurate Wealth Management LLC now owns 1,371 shares of the software maker’s stock valued at $343,000 after buying an additional 54 shares during the period. UMB Bank n.a. increased its stake in shares of Manhattan Associates by 25.9% during the fourth quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock valued at $61,000 after buying an additional 58 shares during the period. iA Global Asset Management Inc. increased its stake in shares of Manhattan Associates by 9.7% during the first quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker’s stock valued at $182,000 after buying an additional 64 shares during the period. Finally, Janiczek Wealth Management LLC increased its stake in shares of Manhattan Associates by 4.6% during the first quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock valued at $373,000 after buying an additional 65 shares during the period. 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.