Benchmark Downgrades Manhattan Associates, Inc. (MANH) to Hold; Valuation Call

Benchmark downgraded Manhattan Associates, Inc. (NASDAQ: MANH) from Buy to Hold.

Benchmark analyst says, "We are lowering our rating on MANH as we believe current valuation in the stock limits near-term upside potential. Though we believe the Company’s near-term demand outlook is intact, and we have a high regard for management, we can no longer justify the sufficient upside necessary to maintain our Buy rating at current levels, particularly given the recent macro uncertainty. We would become more constructive on the stock with a meaningful pullback or confidence in sustained acceleration of revenue and earnings."

For an analyst ratings summary and ratings history on Manhattan Associates, Inc. click here. For more ratings news on Manhattan Associates, Inc. click here.

Shares of Manhattan Associates, Inc. closed at $42.59 yesterday.

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