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On Monday, DA Davidson reiterated its Buy rating and $195.00 price target for Manhattan Associates, Inc. (NASDAQ:MANH), representing a 23% upside from the current price of $158.66. The firm’s analysis highlighted the company’s diverse client base across different end markets that utilize Manhattan’s software and service expertise for supply chain management. According to InvestingPro data, the company maintains excellent financial health with a "GREAT" overall score, despite trading at relatively high valuation multiples. The research focused on evaluating the new bookings from the past three years by industry vertical, revealing a broadened customer portfolio beyond the retail sector.
The firm’s analyst, William A. Jellison, provided insights into the company’s market position and the evolving landscape of supply chain execution systems. "We are maintaining our BUY rating and $195 target on Manhattan Associates and offering perspective on the different end markets which rely upon Manhattan software and Service expertise to run their supply chains," Jellison stated.
The research conducted by DA Davidson underscored a diversification in Manhattan Associates’ clientele, as evidenced by the analysis of recent bookings. This diversification is seen as a positive sign, indicating the company’s ability to attract and serve a wide range of industries with its offerings. The strategy appears to be working, with InvestingPro data showing impressive revenue growth of 12.23% over the last twelve months and a robust gross profit margin of 54.82%.
While acknowledging the potential for increased risk to the Services segment, DA Davidson also pointed out the potential for medium- to long-term growth within the market for supply chain optimization. "We recognize potential for incremental risk to Services, but medium- to long-term acceleration in the market for optimizing supply chain execution systems, which Manhattan leads," added Jellison.
Manhattan Associates, with its robust suite of supply chain and commerce solutions, is positioned as a leader in the field according to DA Davidson’s assessment. The firm’s maintained Buy rating and price target reflect confidence in the company’s future performance and its role in the supply chain execution market. With earnings scheduled for April 22, investors can access comprehensive analysis and 12 additional ProTips through InvestingPro’s detailed research report, offering deeper insights into MANH’s valuation and growth prospects.
In other recent news, Manhattan Associates has experienced several adjustments in analyst ratings and price targets. Truist Securities revised its price target for the company from $285 to $180 while maintaining a Buy rating, citing economic uncertainties and a conservative forecast for future performance. Despite these concerns, the firm remains optimistic about Manhattan Associates’ near-term financial performance, particularly in its cloud business. Loop Capital downgraded the stock from Buy to Hold, lowering the price target to $170 due to macroeconomic uncertainties impacting customer migrations. The analysts noted potential headwinds due to these delays but acknowledged the company’s favorable market position.
Piper Sandler also adjusted its price target to $200, maintaining an Overweight rating. The firm expressed concerns about the company’s services segment but highlighted the potential for revenue growth in 2026. Meanwhile, Citi lowered its price target to $184 and kept a Neutral rating, pointing to challenges in the professional services sector and uncertainties surrounding a CEO change. Despite these adjustments, Truist Securities continues to support Manhattan Associates with a Buy rating and a $285 price target, emphasizing the company’s innovative cloud strategies and potential for sustained growth in SaaS revenue.
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