Manhattan Associates (NASDAQ:MANH) Issues Quarterly Earnings Results

Manhattan Associates (NASDAQ:MANH) posted its earnings results on Tuesday. The software maker reported $1.39 EPS for the quarter, topping the consensus estimate of $1.32 by $0.07, FiscalAI reports. Manhattan Associates had a net margin of 18.67% and a return on equity of 77.39%. The firm had revenue of $297.79 million during the quarter, compared to analysts’ expectations of $289.03 million. During the same period last year, the company posted $1.31 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year.

Here are the key takeaways from Manhattan Associates’ conference call:

• Strong Q2 performance: Cloud revenue grew 26% to $127 million, RPO increased 23% to $2.47 billion, and the company reported its third consecutive quarter of record bookings. Adjusted EPS was $1.39, while operating cash flow rose 22% to $91 million.
• Management raised its full-year 2026 outlook, including total revenue of $1.160 billion–$1.166 billion, adjusted operating margin of approximately 35.1%, adjusted EPS of $5.44–$5.50, and cloud revenue of about $505.5 million, representing 24% growth.
• AI adoption is gaining traction: Active Agents now reach more than 10% of the Active install base through pilots or subscriptions, with 100% conversion from completed pilots to subscriptions so far. However, management said AI revenue contributions remain small in 2026 because the offering is still early.
• Manhattan introduced three pricing and packaging tiers—Essentials, Enterprise, and Enterprise Premier—to expand its addressable market, accelerate on-premises conversions, and make its Active platform and embedded AI available to smaller customers and sites. Partner-sourced deals increased fourfold year over year in the first half.
• GAAP EPS declined 9% to $0.85 due partly to an approximately $8 million restructuring charge tied to reducing investment in legacy areas. The company expects to reinvest some resulting savings, with no margin benefit from the headcount reduction anticipated in 2026.

Manhattan Associates Trading Down 7.1%

NASDAQ MANH traded down $14.57 on Thursday, reaching $189.45. 595,588 shares of the stock were exchanged, compared to its average volume of 754,594. Manhattan Associates has a one year low of $119.06 and a one year high of $227.43. The firm has a market capitalization of $11.21 billion, a PE ratio of 54.07 and a beta of 0.97. The company’s 50-day simple moving average is $148.29 and its two-hundred day simple moving average is $145.05.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Robert W. Baird upped their target price on Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays lowered their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Morgan Stanley set a $180.00 price objective on shares of Manhattan Associates in a report on Wednesday. Stifel Nicolaus upped their price target on Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Rothschild & Co Redburn set a $145.00 target price on Manhattan Associates in a report on Thursday, April 16th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $209.20.

Manhattan Associates News Roundup

Here are the key news stories impacting Manhattan Associates this week:

• Positive Sentiment: Q2 results exceeded expectations. Manhattan Associates reported adjusted EPS of $1.39 versus the $1.32 consensus estimate, while revenue increased 9.3% year over year to $297.8 million, ahead of the $289.0 million forecast. Manhattan Associates Q2 earnings results
• Positive Sentiment: Cloud momentum was the key catalyst. Cloud subscription revenue climbed 26% year over year to $126.7 million, and remaining performance obligations reached approximately $2.47 billion, supporting expectations for recurring revenue growth. MANH Q2 earnings beat estimates
• Positive Sentiment: 2026 earnings guidance was raised. The company now expects EPS of $5.44–$5.50, above the roughly $5.02 analyst consensus. Revenue guidance was set at approximately $1.2 billion, broadly in line with expectations. Manhattan Associates guidance update
• Positive Sentiment: AI and product expansion are strengthening the growth narrative. New “Active Editions” and agent-based capabilities are intended to increase the value of Manhattan’s cloud platform. Baird raised its price target from $186 to $218 and maintained an Outperform rating, while William Blair reiterated a Buy rating. Analyst view on Manhattan Associates growth

Insider Activity at Manhattan Associates

In related news, CEO Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total transaction of $146,770.00. Following the transaction, the chief executive officer owned 92,638 shares in the company, valued at approximately $13,596,479.26. The trade was a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC grew its stake in Manhattan Associates by 76.4% during the third quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker’s stock valued at $145,073,000 after acquiring an additional 306,516 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Manhattan Associates in the 2nd quarter worth about $49,204,000. Balyasny Asset Management L.P. lifted its position in Manhattan Associates by 293.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 219,697 shares of the software maker’s stock worth $38,076,000 after buying an additional 163,910 shares during the last quarter. Federated Hermes Inc. boosted its position in Manhattan Associates by 2,970.0% in the 4th quarter. Federated Hermes Inc. now owns 165,966 shares of the software maker’s stock valued at $28,764,000 after buying an additional 160,560 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Manhattan Associates by 7.7% during the third quarter. AQR Capital Management LLC now owns 2,077,132 shares of the software maker’s stock worth $425,771,000 after buying an additional 149,079 shares during the period. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.