Manhattan Associates (NASDAQ:MANH) Issues Earnings Results

Manhattan Associates (NASDAQ:MANH) posted its quarterly earnings results on Tuesday. The software maker reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07, FiscalAI reports. The business had revenue of $297.79 million during the quarter, compared to analysts’ expectations of $289.03 million. Manhattan Associates had a return on equity of 78.13% and a net margin of 19.68%.Manhattan Associates’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $1.31 earnings per share.

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 Up 26.1%

Shares of MANH traded up $43.87 during trading hours on Wednesday, reaching $212.04. 756,189 shares of the stock traded hands, compared to its average volume of 740,487. The company has a market cap of $12.55 billion, a P/E ratio of 59.38 and a beta of 0.97. The company’s 50-day moving average price is $146.95 and its two-hundred day moving average price is $144.84. Manhattan Associates has a 52-week low of $119.06 and a 52-week high of $229.57.

Insider Activity at Manhattan Associates

In other news, CEO Eric Andrew Clark sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the sale, the chief executive officer directly owned 92,638 shares in the company, valued at $13,596,479.26. The trade was a 1.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Large investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in shares of Manhattan Associates by 3.3% in the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker’s stock valued at $366,000 after acquiring an additional 59 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Manhattan Associates by 2.6% in the third quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker’s stock worth $555,000 after purchasing an additional 69 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Manhattan Associates by 1.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker’s stock valued at $1,104,000 after buying an additional 80 shares during the period. Smartleaf Asset Management LLC increased its holdings in Manhattan Associates by 7.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,365 shares of the software maker’s stock worth $269,000 after purchasing an additional 94 shares during the period. Finally, Lido Advisors LLC raised its position in Manhattan Associates by 8.5% during the 4th quarter. Lido Advisors LLC now owns 1,332 shares of the software maker’s stock valued at $231,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Key Manhattan Associates News

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

• Positive Sentiment: Q2 results exceeded expectations: Adjusted earnings were $1.39 per share 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 report
• Positive Sentiment: Cloud growth remains the main catalyst: Cloud subscription revenue jumped 26% year over year to $126.7 million, supporting higher sales and profitability. The company also reported $2.47 billion in remaining performance obligations, providing visibility into future revenue. MANH Q2 earnings beat estimates
• Positive Sentiment: Full-year guidance was raised or strengthened: Manhattan Associates now expects 2026 revenue of approximately $1.160 billion to $1.166 billion and GAAP earnings of $3.59 to $3.65 per share. The company is also introducing “Active Editions” and targeting $2.62 billion to $2.68 billion in RPO, signaling confidence in recurring cloud demand. Manhattan Associates 2026 guidance
• Positive Sentiment: Analyst sentiment improved: Robert W. Baird raised its price target from $186 to $218 and maintained an Outperform rating. William Blair also reiterated a Buy rating, citing cloud acceleration and agent-based capabilities. Baird price-target update
• Neutral Sentiment: Management repurchased approximately 874,000 shares for $125 million during the quarter, which supports per-share value but reduces available cash.
• Negative Sentiment: GAAP diluted EPS declined to $0.85 from $0.93 a year earlier, and two executives reported share sales. A law firm has also announced an investigation into potential fiduciary-duty breaches; no wrongdoing has been established, but the matter could create an overhang. Rosen Law Firm investigation

Analyst Ratings Changes

MANH has been the topic of a number of research analyst reports. Wall Street Zen downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Citigroup upped their target price on Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Stifel Nicolaus set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday. Robert W. Baird upped their price objective on shares of Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Rothschild & Co Redburn set a $145.00 target price on Manhattan Associates in a report on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $208.20.

About Manhattan Associates

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.