Citigroup Cuts Manhattan Associates (NASDAQ:MANH) Price Target to $200.00

Manhattan Associates (NASDAQ:MANH) had its price objective cut by Citigroup from $204.00 to $200.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

MANH has been the subject of several other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Manhattan Associates in a research report on Wednesday, October 8th. DA Davidson set a $250.00 target price on Manhattan Associates in a report on Wednesday, October 22nd. Morgan Stanley set a $200.00 price target on Manhattan Associates and gave the stock an “equal weight” rating in a research note on Wednesday, October 22nd. Zacks Research cut Manhattan Associates from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, Truist Financial set a $230.00 price objective on Manhattan Associates in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.42.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $174.89 on Tuesday. The business’s 50 day moving average price is $178.88 and its 200-day moving average price is $197.04. Manhattan Associates has a 1 year low of $140.81 and a 1 year high of $299.27. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 49.82 and a beta of 1.02.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 21st. The software maker reported $1.36 EPS for the quarter, topping the consensus estimate of $1.18 by $0.18. The company had revenue of $275.80 million during the quarter, compared to analyst estimates of $271.66 million. Manhattan Associates had a net margin of 20.25% and a return on equity of 78.80%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.35 EPS. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. On average, sell-side analysts expect that Manhattan Associates will post 3.3 earnings per share for the current year.

Hedge Funds Weigh In On Manhattan Associates

Institutional investors have recently bought and sold shares of the company. Whipplewood Advisors LLC increased its stake in Manhattan Associates by 907.7% during the second quarter. Whipplewood Advisors LLC now owns 131 shares of the software maker’s stock worth $26,000 after acquiring an additional 118 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Manhattan Associates by 448.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock worth $28,000 after purchasing an additional 112 shares during the last quarter. Eastern Bank purchased a new stake in Manhattan Associates in the 3rd quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Manhattan Associates by 117.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 230 shares of the software maker’s stock valued at $45,000 after buying an additional 124 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in Manhattan Associates by 1,000.0% in the second quarter. Hantz Financial Services Inc. now owns 308 shares of the software maker’s stock valued at $61,000 after buying an additional 280 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.