Manhattan Associates (MANH) experienced a significant decline during intraday trading on Wednesday, with its stock price plummeting 5.16%.
The sharp drop appears to be driven by negative analyst sentiment, as multiple firms lowered their price targets for the company. Raymond James reduced its target to $230 from $240, while D.A. Davidson cut its target to $240 from $250, though maintained a Buy rating on the shares.
These downward revisions in price targets from prominent analysts contributed to selling pressure on the stock, reflecting concerns or adjusted expectations about the company's future performance.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments