Fintel reports that on May 14, 2024, Redburn Atlantic initiated coverage of Manhattan Associates (NasdaqGS:MANH) with a Buy recommendation.

Analyst Price Forecast Suggests 16.65% Upside

As of May 8, 2024, the average one-year price target for Manhattan Associates is 249.19. The forecasts range from a low of 222.20 to a high of $288.75. The average price target represents an increase of 16.65% from its latest reported closing price of 213.62.

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The projected annual revenue for Manhattan Associates is 927MM, a decrease of 3.71%. The projected annual non-GAAP EPS is 3.08.

What is the Fund Sentiment?

There are 1,233 funds or institutions reporting positions in Manhattan Associates. This is an increase of 55 owner(s) or 4.67% in the last quarter. Average portfolio weight of all funds dedicated to MANH is 0.33%, an increase of 5.55%. Total shares owned by institutions increased in the last three months by 0.61% to 73,548K shares. The put/call ratio of MANH is 0.58, indicating a bullish outlook.

What are Other Shareholders Doing?

Alliancebernstein holds 3,145K shares representing 5.11% ownership of the company. In its prior filing, the firm reported owning 3,322K shares , representing a decrease of 5.66%. The firm decreased its portfolio allocation in MANH by 6.73% over the last quarter.

Kayne Anderson Rudnick Investment Management holds 2,609K shares representing 4.24% ownership of the company. In its prior filing, the firm reported owning 2,664K shares , representing a decrease of 2.11%. The firm decreased its portfolio allocation in MANH by 6.40% over the last quarter.

Invesco holds 2,265K shares representing 3.68% ownership of the company. In its prior filing, the firm reported owning 3,611K shares , representing a decrease of 59.46%. The firm decreased its portfolio allocation in MANH by 39.64% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,930K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 1,926K shares , representing an increase of 0.17%. The firm decreased its portfolio allocation in MANH by 2.49% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 1,869K shares representing 3.04% ownership of the company. In its prior filing, the firm reported owning 1,927K shares , representing a decrease of 3.13%. The firm decreased its portfolio allocation in MANH by 2.39% over the last quarter.

Manhattan Associates Background Information
(This description is provided by the company.)

Manhattan Associates is a technology leader in supply chain and omnichannel commerce. The company unites information across the enterprise, converging front-end sales with back-end supply chain execution. Its software, platform technology and unmatched experience help drive both top-line growth and bottom-line profitability for its customers.