Manhattan Associates gains after brokerage upgrades on growth prospects

Manhattan Associates

22/03/2022 12:02

** Shares of supply chain solutions provider  MANH.O  up
2.67% at $141.8 premarket, after Raymond James upgrades to
"outperform" from "market perform"
    ** Brokerage believes co's product innovation and cloud
monetization opportunity is much larger than investors
appreciate 
    ** "Our analysis of the implied revenue per customer for the
company's ActiveWM product suggests a revenue opportunity north
of $2 billion" - Raymond
    ** Says co can successfully migrate a good portion of its
customer base to its ActiveWM product over a 5-10 year period;
believes co can significantly extend its current monetization
    ** Avg. rating of seven analysts covering MANH is "buy";
median PT is $171 - Refinitiv Data
    ** Up to Monday's close, stock had fallen ~11% YTD

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6749 3677;))