Manhattan Associates price target lowered to $244 from $303 at Citi

Citi analyst George Kurosawa lowered the firm’s price target on Manhattan Associates (MANH) to $244 from $303 and keeps a Neutral rating on the shares. The company reported a “mixed” Q4, with complications from currency moves and project downsizing in Pro Services driving a $50M cut to the 2025 revenue outlook, the analyst tells investors in a research note. The firm says that while bulls can point to solid remaining performance obligation and argue Pro Services is “non-core” with the long-term cloud thesis intact, “challenging optics” make Manhattan ‘s premium multiple “more difficult to justify.”