Manhattan Associates Stock Falls as Its Outlook Worsens
Manhattan Associates (NASDAQ: MANH) provides supply chain management tools that help its customers manage their operations more effectively, and the company boasts an impressive list of well-known clients throughout the retail and shipping industries that have helped lift its stock dramatically over the long run. However, when its customers are under financial pressure due to a weak retail environment, Manhattan Associates feels the pain as well, and recent results have reflected the sluggishness in key client industries.
Coming into Thursday's second-quarter financial report, Manhattan investors were prepared for slight declines in sales and earnings, and that was generally consistent with what the company's results actually were. What investors weren't prepared to see, however, was further deterioration in the company's guidance for the remainder of the year. Let's take a closer look at Manhattan Associates and what its latest results mean for the company's future.
Image source: Manhattan Associates.
Source: Fool.com
Manhattan Associates Inc. Stock
With 9 Buy predictions and not the single Sell prediction the community is currently very high on Manhattan Associates Inc..
As a result the target price of 227 € shows a slightly positive potential of 8.1% compared to the current price of 210.0 € for Manhattan Associates Inc..
