Manhattan Associates price target lowered to $270 from $315 at DA Davidson

DA Davidson lowered the firm’s price target on Manhattan Associates (MANH) to $270 from $315 but keeps a Buy rating on the shares after its guidance miss. The price target cut is a reflection of both lowered expectations and multiple compression, but the 20% subscription revenue growth post-2025 is a key incremental datapoint, and while the stock fell 25% afterhours, the firm “believes strongly” that the enterprise is not worth a quarter less than it was before yesterday’s earnings, the analyst tells investors in a research note.