Truist has increased its price target for Manhattan Associates (MANH, Financial) from $180 to $190, maintaining a Buy rating on the stock. The firm highlights the impressive performance of Manhattan Associates in the first quarter, with results exceeding expectations across various metrics.
Truist emphasizes that Manhattan Associates continues to be a leading performer in terms of Software as a Service (SaaS) revenue growth, operating margins, and free cash flow. Despite prevailing macroeconomic uncertainties, the firm remains confident in the company's ability to sustain its top-tier performance.
The decision to raise the price target reflects Truist's belief in Manhattan Associates' strong market position and its potential to deliver robust financial results in the future.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for Manhattan Associates Inc (MANH, Financial) is $213.25 with a high estimate of $270.00 and a low estimate of $170.00. The average target implies an upside of 31.43% from the current price of $162.25. More detailed estimate data can be found on the Manhattan Associates Inc (MANH) Forecast page.
Based on the consensus recommendation from 10 brokerage firms, Manhattan Associates Inc's (MANH, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Manhattan Associates Inc (MANH, Financial) in one year is $249.47, suggesting a upside of 53.76% from the current price of $162.25. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Manhattan Associates Inc (MANH) Summary page.
