Manhattan Associates (NASDAQ:MANH) Releases Earnings Results, Beats Expectations By $0.07 EPS

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

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 Price Performance

NASDAQ MANH traded up $42.83 during mid-day trading on Wednesday, reaching $211.00. The stock had a trading volume of 706,774 shares, compared to its average volume of 739,970. Manhattan Associates has a 1 year low of $119.06 and a 1 year high of $229.57. The stock has a market cap of $12.48 billion, a PE ratio of 59.10 and a beta of 0.97. The company has a fifty day moving average price of $146.95 and a 200 day moving average price of $144.84.

Analysts Set New Price Targets

Several equities research analysts recently commented on MANH shares. Robert W. Baird boosted their price objective on shares of Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday. Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Citigroup lifted their target price on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Morgan Stanley set a $180.00 price target on Manhattan Associates in a research report on Wednesday. Finally, Rothschild & Co Redburn set a $145.00 price objective on Manhattan Associates in a research report on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $208.20.

Insider Buying and Selling

In other news, CEO Eric Andrew Clark sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total value of $146,770.00. Following the completion of the transaction, the chief executive officer owned 92,638 shares in the company, valued at $13,596,479.26. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Several institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC raised its position in Manhattan Associates by 76.4% in the 3rd quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker’s stock worth $145,073,000 after buying an additional 306,516 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at about $49,204,000. Balyasny Asset Management L.P. grew its stake in shares of 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 acquiring an additional 163,910 shares during the period. Federated Hermes Inc. grew its stake in shares of Manhattan Associates by 2,970.0% in the fourth quarter. Federated Hermes Inc. now owns 165,966 shares of the software maker’s stock worth $28,764,000 after acquiring an additional 160,560 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of 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 valued at $425,771,000 after purchasing an additional 149,079 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates News Summary

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

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.