Manhattan Associates price target lowered to $240 from $250 at Stifel

Stifel lowered the firm’s price target on Manhattan Associates (MANH) to $240 from $250 and keeps a Buy rating on the shares. A Q3 beat was driven by cloud subscription and solid services revenue upside, but the midpoint of the Q4 view ticked down as a result of the services dynamic and hardware, the analyst noted. Management, as expected, provided an initial outlook for 2026 that calls for 20%-plus cloud subscription growth and a return to growth in services, while noting that consensus 2026 estimates “are generally appropriate,” the analyst adds.