Manhattan Associates price target lowered to $285 from $310 at Truist

Truist lowered the firm’s price target on Manhattan Associates (MANH) to $285 from $310 but keeps a Buy rating on the shares after its Q4 results. The company’s quarterly change in RPO/cloud bookings proxy was the highest level in history at $127M on constant currency basis, but the issues impacting 2025 outlook and causing a 25% afterhours decline include FX headwinds and meaningful services revenue guide cut due to macro dynamics, the analyst tells investors in a research note. Truist adds however that investors should “buy on weakness” as rare severe level of stock volatility creates an opportunity amid continued cloud bookings strength.