Stifel Nicolaus Has Lowered Expectations for Manhattan Associates (NASDAQ:MANH) Stock Price

Manhattan Associates (NASDAQ:MANH) had its target price reduced by stock analysts at Stifel Nicolaus from $240.00 to $225.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ target price indicates a potential upside of 29.30% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Citigroup upgraded shares of Manhattan Associates from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $200.00 to $208.00 in a research report on Thursday, January 15th. Morgan Stanley reduced their price objective on shares of Manhattan Associates from $200.00 to $165.00 and set an “equal weight” rating for the company in a research report on Monday, January 5th. Truist Financial set a $240.00 price objective on Manhattan Associates in a report on Thursday, January 15th. Barclays cut their target price on Manhattan Associates from $239.00 to $237.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Finally, DA Davidson set a $250.00 price target on Manhattan Associates in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $219.58.

Manhattan Associates Trading Up 2.2%

Manhattan Associates stock opened at $174.02 on Friday. The stock has a 50 day moving average of $173.77 and a two-hundred day moving average of $193.84. Manhattan Associates has a twelve month low of $140.81 and a twelve month high of $299.27. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 49.58 and a beta of 1.02.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Manhattan Associates by 181.6% in the second quarter. AQR Capital Management LLC now owns 1,928,053 shares of the software maker’s stock valued at $380,733,000 after buying an additional 1,243,390 shares in the last quarter. Norges Bank purchased a new position in Manhattan Associates during the 2nd quarter valued at about $162,545,000. Alliancebernstein L.P. raised its position in Manhattan Associates by 22.7% during the third quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker’s stock worth $574,334,000 after acquiring an additional 518,321 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Manhattan Associates by 88.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 667,728 shares of the software maker’s stock worth $136,871,000 after acquiring an additional 314,112 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Manhattan Associates by 86.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 676,034 shares of the software maker’s stock valued at $138,573,000 after purchasing an additional 312,858 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Company Profile

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.