William Blair analyst Dylan Becker has maintained their neutral stance on MANH stock, giving a Hold rating on January 29.
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Dylan Becker has given his Hold rating due to a combination of factors related to the recent leadership changes at Manhattan Associates. The announcement of the long-serving CEO Eddie Capel’s retirement and the appointment of Eric Clark as his successor introduces uncertainty, which often makes investors cautious.
Although Clark brings valuable experience from his previous roles, the transition’s timing following a significant earnings-related guidance reduction raises questions. However, the presence of a detailed succession plan and Capel’s continued involvement offers some reassurance, justifying the Hold rating as investors await further clarity on how these changes might impact the company’s future performance.
In another report released on January 29, Citi also maintained a Hold rating on the stock with a $244.00 price target.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MANH in relation to earlier this year.