DA Davidson Rates Manhattan Associates (MANH) Neutral
Key Points
- DA Davidson lowered its rating on Manhattan Associates, Inc. to Neutral on September 28, 2026, keeping its price target flat at $210.
- DA Davidson's $210 price target implies 5.33% downside from Manhattan Associates, Inc.'s ($MANH) current $221.82 share price.
- Other large investment firms like AQR Capital Management and AllianceBernstein adjusted their stakes in the supply chain software provider earlier in the year.
- The company trades with a trailing twelve-month revenue of $1.13 billion and a price-to-earnings ratio of 63.9 ahead of its October earnings release.
Since the rating, $MANH is up 1.8% after 1 week and up 11.7% to date (from the $201.88 close on Sep 28, 2026).
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DA Davidson lowered its rating on Manhattan Associates, Inc. (NasdaqGS: MANH) to Neutral on September 28, 2026, keeping its price target flat at $210. The adjustment from the research firm stands out against a broader backdrop of generally upbeat sentiment from other Wall Street analysts covering the supply chain software provider. Manhattan Associates closed at $201.88 on the day of the rating change.
MANH
Manhattan Associates, Inc.
DA Davidson's Call on Manhattan Associates
On September 28, 2026, DA Davidson adjusted its stance on the software firm to a Neutral rating. The firm kept its price target at $210, matching its previous target of $210. Analysts issue forward-looking opinions to guide market participants, and this neutral stance suggests the firm sees fewer near-term catalysts compared to its earlier views.
Other Institutional Activity in Manhattan Associates
Large investment firms have adjusted their positions in the software maker over recent reporting periods. AQR Capital Management, LLC grew its holdings by 166,326 shares, ending with 3,328,418 shares worth about $750.33 million after a 5.3% increase reported for June 30, 2026. AllianceBernstein L.P. reduced its stake by 817,071 shares, leaving it with 2,297,954 shares valued at roughly $518.03 million following a 26.2% decrease.
Manhattan Associates, Inc. Stock Down 0.2%
Manhattan Associates recently traded around $221.82, sitting above its 50-day moving average of $208.90 and well above its 200-day moving average of $163.09. The stock trades about 4.2% below its 52-week high of $231.63 and up 86.3% above its 52-week low of $119.06.
$MANH price target
Manhattan Associates, Inc. daily closes and this analyst's $210 target. Not advice.
Recent Earnings
Manhattan Associates reported $1.13 billion in trailing twelve-month revenue with an earnings per share of $3.53. The company holds a net profit margin of 18.7% and a return on equity of 96.4%. Investors will watch the upcoming earnings release on October 27, 2026, to gauge recent operational momentum.
Insider Buying and Selling at Manhattan Associates, Inc.
Company insiders completed several transactions prior to the rating change. Chief Executive Officer Eric Andrew Clark sold 1,000 shares on June 10, 2026, at an average price of $146.77 for a total of $146,770, and later sold 3,000 shares on August 11, 2026, at $197.76 for $593,280. Officer James Stewart Gantt sold 5,139 shares on July 30, 2026, at $195.53 totaling $1,004,831. Director Linda T. Hollembaek sold 1,579 shares on August 6, 2026, at $189.88 for $299,821.
Analysts Set New Price Targets
Wall Street firms have actively updated their views on the stock through the summer and fall. Stifel maintained a Buy rating with a $225 target on July 29, 2026, while DA Davidson maintained a Buy rating with a $210 target on the same day. Baird kept an Outperform rating and raised its target to $260 on August 26, 2026. Barclays maintained an Overweight rating and lifted its target to $239 on September 8, 2026. Overall, the stock carries a consensus buy recommendation from analysts with a mean price target of $230.20.
About Manhattan Associates
Manhattan Associates, Inc. creates enterprise software used by businesses to run their distribution networks, warehouses, and customer fulfillment operations. Headquartered in Atlanta, Georgia, the company helps brands streamline inventory flow and omnichannel sales.
Bottom Line
DA Davidson's shift to a Neutral rating places a cautious note on the stock even as broader analyst opinion remains mostly positive. Market participants will look ahead to the company's next earnings report on October 27, 2026, for updated financial results.
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Source: DA Davidson's rating change on $MANH (Sep 28, 2026). Written by software, not financial advice. How we make alerts