Brean Capital Yun Kim said he believes most of Manhattan Associates' value is driven by its consistency in execution. Kim said his checks into the company fundamentals show they remain strong and steady, especially around large deals. The analyst expects the stock to move higher as the company continues to put up steady top-line growth while showing improving margin leverage. Kim reiterated his Buy rating and $75 price target on Manhattan Associates shares.

DA Davidson upgraded Manhattan Associates to Buy from Neutral with a price target of $240, up from $220. The stock correction this year is overdone, especially following a quarter where the company exceeded expectations and raised guidance, the analyst tells investors in a research note. The firm says the shares now trade below its three-year bottom quartile forward price-to-earnings ratio, "an attractive entry for buyers today." The firm believes Manhattan is a "definitive" return on invested capital leader and "deserves more recognition from the market." Manhattan "generates pre-tax return on invested capital of 135%, a number we had to triple-check and sanity-check with management," writes DA Davidson.