No products in the cart.

Manhattan Associates Earns an Upgrade at DA Davidson

DA Davidson analysts raised their rating on Manhattan Associates (NASDAQ:MANH) to Buy from Neutral and set a price target at $240 (up from $220). The analysts highlighted that the upgrade was prompted by the stock’s significant pullback this year, which they consider overdone, especially after the company recently surpassed expectations and increased its guidance.
Although the reported RPO might have seemed disappointing against high expectations, when adjusted for foreign exchange impacts, it actually surpasses the required quarterly pace to meet the year-end 2024 target, with continued strong demand. The analysts noted that Manhattan Associates is now trading below its three-year bottom quartile forward P/E ratio, presenting an attractive buying opportunity. The raised target price of $240 reflects DA Davidson’s view that Manhattan Associates, as a definitive leader in return on invested capital, merits greater market recognition.

Subscribe to get Latest News

Latest Articles

More like this