Raymond James analyst Brian Peterson lowered the firm’s price target on Manhattan Associates (MANH) to $240 from $250 and keeps an Outperform rating on the shares. The Q3 results showed seasonally softer RPO growth than in prior quarters, but Raymond James tells investors in a research note that the firm is a buyer of shares on the pullback. The firm has a high degree of confidence in an RPO ramp in coming years, while management reiterated its expectation for cloud growth north of 20%.
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Read More on MANH:
- Manhattan Associates price target lowered to $240 from $250 at Stifel
- Manhattan Associates: Strong Q3 Performance and Strategic Initiatives Justify Buy Rating
- Manhattan Associates price target lowered to $244 from $247 at Barclays
- Manhattan Associates upgraded to Equal Weight from Underweight at Morgan Stanley
- Manhattan Associates: Upgraded to Hold Amid Improved Risk/Reward Profile Despite RPO Concerns