DA Davidson Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $195.00

Manhattan Associates (NASDAQ:MANH) had its target price cut by DA Davidson from $270.00 to $195.00 in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have a buy rating on the software maker’s stock. DA Davidson also issued estimates for Manhattan Associates’ FY2025 earnings at $3.42 EPS.

A number of other research firms also recently commented on MANH. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Truist Financial lowered their target price on Manhattan Associates from $285.00 to $185.00 and set a “buy” rating for the company in a research report on Monday. Raymond James cut their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Citigroup decreased their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Finally, William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $212.67.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $161.09 on Monday. The firm’s fifty day moving average is $171.66 and its two-hundred day moving average is $240.18. Manhattan Associates has a 52-week low of $140.81 and a 52-week high of $312.60. The company has a market cap of $9.78 billion, a P/E ratio of 45.89 and a beta of 1.36.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently modified their holdings of the business. Twin Tree Management LP bought a new position in Manhattan Associates in the 4th quarter valued at $25,000. Whipplewood Advisors LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at $34,000. Central Pacific Bank Trust Division grew its holdings in shares of Manhattan Associates by 107.3% in the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker’s stock worth $34,000 after purchasing an additional 103 shares during the last quarter. Synergy Asset Management LLC purchased a new position in Manhattan Associates in the 4th quarter worth about $35,000. Finally, Park Square Financial Group LLC purchased a new position in Manhattan Associates in the 4th quarter worth about $38,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.