Morgan Stanley analyst Chris Quintero upgraded the rating on Manhattan Associates to a Hold today, setting a price target of $200.00.
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Chris Quintero has given his Hold rating due to a combination of factors affecting Manhattan Associates. Initially, the company’s stock faced a decline following the Q3 results, primarily due to a slowdown in RPO-based bookings and management’s preliminary outlook for FY26, which fell short of market expectations, particularly in non-cloud revenue segments.
Despite these challenges, the company’s Q3 revenue exceeded consensus estimates, driven by better-than-expected performance in services. However, the deceleration in RPO growth and the sequential decline in RPO dollars added raised concerns. With the stock trading at approximately $185 after hours and the absence of further negative catalysts, the risk/reward profile has improved, prompting an upgrade from Underweight to Hold.
According to TipRanks, Quintero is an analyst with an average return of -2.6% and a 25.64% success rate. Quintero covers the Technology sector, focusing on stocks such as Manhattan Associates, SPS Commerce, and BlackLine.