What Happened?
Shares of supply chain software provider Manhattan Associates (NASDAQ: MANH) jumped 3.1% in the morning session after Barclays initiated coverage on the supply chain solutions provider with an 'Overweight' rating and a $247 price target. The new rating from Barclays analyst Guy Hardwick suggested confidence in the company's performance. This positive analyst view followed a similar move from the previous day when Stifel also began coverage with a 'Buy' rating and a $250 price target.
After the initial pop the shares cooled down to $205.16, up 3.1% from previous close.
Is now the time to buy Manhattan Associates? Access our full analysis report here.
What Is The Market Telling Us
Manhattan Associates’s shares are somewhat volatile and have had 12 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 8 months ago when the stock dropped 25.6% on the news that the company reported weak fourth-quarter results: Its revenue guidance for next year suggests a significant slowdown in demand, and its full-year revenue guidance fell short of Wall Street's estimates. Moving down the income statement, full-year EPS guidance also came in below expectations. On the other hand, MANH beat EPS expectations on revenue, which came in slightly ahead of Wall Street's estimates. Overall, this was a weaker quarter, with the outlook weighing on shares.
Manhattan Associates is down 23.7% since the beginning of the year, and at $205.16 per share, it is trading 33.8% below its 52-week high of $309.78 from December 2024. Investors who bought $1,000 worth of Manhattan Associates’s shares 5 years ago would now be looking at an investment worth $2,042.
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