KD Logo

DA Davidson upgrades Manhattan Associates, Inc. (MANH) rating to a Buy

Manhattan Associates, Inc.’s recently made public that its SVP, CLO & Secretary Richards Bruce unloaded Company’s shares for reported $1.02 million on Mar 06 ’24. In the deal valued at $255.67 per share,4,000 shares were sold. As a result of this transaction, Richards Bruce now holds 30,236 shares worth roughly $6.23 million.

Then, Gantt James Stewart sold 4,000 shares, generating $1,003,142 in total proceeds. Upon selling the shares at $250.79, the EVP, Professional Services now owns 52,287 shares.

Before that, Capel Eddie sold 5,902 shares. Manhattan Associates, Inc. shares valued at $1,485,599 were divested by the President & CEO at a price of $251.71 per share. As a result of the transaction, Capel Eddie now holds 193,089 shares, worth roughly $39.79 million.

DA Davidson upgraded its Manhattan Associates, Inc. [MANH] rating to a Buy from a a Neutral in a research note published on April 25, 2024; the price target was increased to $240 from $220. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in mid March with a ‘”a Neutral”‘ rating. Rosenblatt also remained covering MANH and has decreased its forecast on April 11, 2023 with a “Neutral” recommendation from previously “Buy” rating. DA Davidson started covering the stock on February 22, 2023. It rated MANH as “a Neutral”.

Price Performance Review of MANH

On Tuesday, Manhattan Associates, Inc. [NASDAQ:MANH] saw its stock fall -1.80% to $206.06. Over the last five days, the stock has lost -10.65%. Manhattan Associates, Inc. shares have fallen nearly -4.30% since the year began. Nevertheless, the stocks have risen 24.37% over the past one year. While a 52-week high of $266.94 was reached on 03/08/24, a 52-week low of $165.37 was recorded on 01/05/24. SMA at 50 days reached $242.08, while 200 days put it at $217.23. A total of 0.61 million shares were traded, compared to the trading of 0.39 million shares in the previous session.

Levels Of Support And Resistance For MANH Stock

The 24-hour chart illustrates a support level at 204.90, which if violated will result in even more drops to 203.73. On the upside, there is a resistance level at 208.20. A further resistance level may holdings at 210.34. The Relative Strength Index (RSI) on the 14-day chart is 24.03, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -14.75, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.37%. Stochastics %K at 8.63% indicates the stock is a buying.

Most Popular

[the_ad id="945"]