DA Davidson has updated its outlook on Manhattan Associates (MANH, Financial), increasing the price target to $200 from $195. The decision to maintain a Buy rating follows the company's first-quarter results, which surpassed initial concerns.
Despite previous worries about potential customer delays impacting the services sector, the company's recent performance eased investor fears. However, caution remains evident in the management's commentary regarding future expectations.
The financial firm also highlighted the positive impact of Manhattan Associates' share buyback efforts, which have significantly contributed to earnings per share growth. This strategy is seen as a key factor in bolstering the company's financial performance.
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.
