Manhattan Associates

MANH · NASDAQ

$232.86+$7.43 (+3.30%)TodayMarket closed · Oct 20, 5:45 PM ET

Prev close $225.43

MANH analyst rating

BuyConsensus of 9 analysts over the last 12 months. 89% rate it a buy.

Strong buy0
Buy8
Hold1
Underperform0
Sell0

12-month price target · 14 analysts

Average $221.67 (−4.8% downside)

Low: $181.80
Now: $232.86
High: $273.00

Upgrades and downgrades

The latest rating actions, newest first

MANH analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Oct 20, 2026	Maintains	Buy	$203.00 → $260.00	67%
Stifel	Oct 14, 2026	Maintains	Buy	$225.00 → $250.00	38%
Morgan Stanley	Oct 12, 2026	Upgrade	Equal-Weight → Overweight	$180.00 → $250.00	33%
DA Davidson	Sep 28, 2026	Downgrade	Buy → Neutral	$210.00	58%
Barclays	Sep 8, 2026	Maintains	Overweight	$201.00 → $239.00	62%
Baird	Aug 26, 2026	Maintains	Outperform	$218.00 → $260.00	53%
Stifel	Jul 29, 2026	Maintains	Buy	$200.00 → $225.00	38%
DA Davidson	Jul 29, 2026	Maintains	Buy	$200.00 → $210.00	58%
Baird	Jul 29, 2026	Maintains	Outperform	$186.00 → $218.00	53%
Loop Capital	Jul 29, 2026	Upgrade	Hold → Buy	$150.00 → $215.00	56%

The case for and against

Updated Oct 16, 2026

Bull case

Manhattan Associates is well positioned to benefit from a large, still-early cloud migration opportunity, with roughly 75% of its on-prem base yet to move and long-duration contracts supporting durable revenue visibility. Strong bookings momentum, a likely top-line beat of about 3 points, and management’s outlook for RPO at the upper end of the 18-20% guide suggest demand remains healthy despite macro volatility. Its Editions packaging, Active Agents, and marketplace-led customization deepen cross-sell, raise monetization, and could sustain 20%-plus cloud subscription growth while supporting margin expansion over time.

Bear case

Manhattan Associates is facing a negative fundamental setup because slower cloud migrations and disruption in the broader retail ecosystem could delay customer decision-making and pressure end-market budgets, weakening demand for its supply chain and omnichannel software. The company also operates in a highly competitive technology landscape where ERP providers and other rivals can force sustained R&D, engineering, marketing, and capital spending just to defend its value proposition, limiting margin expansion. In addition, decelerating distribution and fulfillment center investment, imperfect capital allocation for its large cash balances, and foreign currency translation risk on roughly one-third of revenues add further earnings volatility and downside to reported financial results.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.