Analyst Consensus ?
ConsensusBuy15 ratings
Bullish1280.0%
Neutral320.0%
Bearish00.0%
Manhattan Associates, Inc. · MANH · FY2025 Q3 · Calendar Q4 2025
Manhattan Associates raises outlook as cloud growth and conversions support momentum
The quarter’s reported cloud growth, higher RPO and raised full-year outlook support a constructive operating picture. Whether that momentum persists depends on cloud conversion execution, recurring-revenue durability and delivery of planned AI offerings; the negative post-report market reaction underscores that strong operating results did not translate into a positive immediate response.
Reported After market closeNASDAQTechnology
$14.76B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.36
Consensus $1.19
EPS surprise
+14.3%
Reported versus consensus
Reported revenue
$275.8M
Consensus $271.8M
Revenue surprise
+1.5%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-5.0%
Event window
SPY move
-0.5%
Same window
Abnormal move
-4.4%
Stock minus SPY
Volume
4.5×
Versus trailing sessions
Subsequent drift
-11.8%
Up to 20 sessions
MANHSPY benchmark
Ask FN2 about MANH FY2025 Q3
Transcript, numbers and history already loaded
Why did MANH fall 5.0% after beating EPS estimates in FY2025 Q3?What changed in MANH's guidance and outlook in FY2025 Q3?Give me the bull and bear case for MANH after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the latest analysis describes continued cloud-led growth and a larger RPO base, alongside further raised full-year guidance. Management also advanced the conversion effort and described a planned Agentic AI rollout and Enterprise Promise & Fulfill product expansion. The supplied market-reaction data show shares fell relative to the benchmark in the event window, followed by further negative drift.
Guidance delta
Management raised full-year revenue, margin and EPS guidance, according to the supplied Q3 analysis. The prior-quarter analysis also recorded a guidance raise; the supplied material does not provide a like-for-like revision bridge.
Key takeaways
- Cloud growth and higher RPO were central to the quarter’s reported performance.
- Management raised full-year revenue, margin and EPS guidance.
- Conversion and renewal programs, cross-sell, and broader partner engagement are intended to support continued platform adoption.
- Agentic AI and Enterprise Promise & Fulfill expand the stated product roadmap, while their adoption and economics remain to be demonstrated.
- The event-window market reaction was negative despite the reported operating strength.
Management priorities
- Scale on-premise-to-cloud conversions and renewal programs.
- Broaden adoption of Manhattan Active and Enterprise Promise & Fulfill.
- Roll out Agentic AI agents and develop customer use cases.
- Expand sales capacity and systems-integrator and marketplace partnerships.
- Pursue cloud growth and incremental margin expansion.
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Miss
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Analyst 52W Price Targets
$253.22Previous close
$145Low
$229.25Average
$305High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Overweight | Overweight | Maintain | Nov 2, 2026 |
| Truist Securities | Buy | Buy | Maintain | Oct 28, 2026 |
| Stifel | Buy | Buy | Maintain | Oct 28, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | Oct 28, 2026 |
| Citigroup | Buy | Buy | Maintain | Oct 28, 2026 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | Oct 12, 2026 |
| Baird | Outperform | Outperform | Maintain | Aug 26, 2026 |
| Loop Capital | Buy | Hold | Upgrade | Jul 29, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Oct 22, 2025 |
| Redburn Atlantic | Neutral | Buy | Downgrade | Jun 10, 2025 |
| Piper Sandler | Overweight | Overweight | Maintain | Mar 14, 2025 |
| William Blair | Outperform | Market Perform | Upgrade | Feb 13, 2025 |
| Rosenblatt | Neutral | Neutral | Maintain | Apr 24, 2024 |
| Benchmark | Buy | Buy | Maintain | May 26, 2021 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Jul 15, 2020 |
Named analyst price targets
Upside is calculated against the persisted previous close $253.22. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $305 | $245.84 | +20.4% | Oct 28, 2026 |
| Stifel Nicolaus | Parker Lane | $300 | $233.98 | +18.5% | Oct 28, 2026 |
| Morgan Stanley | Chris Quintero | $250 | $204.89 | -1.3% | Oct 12, 2026 |
| UBS | Analyst unavailable | $210 | $206.03 | -17.1% | Sep 28, 2026 |
| Robert W. Baird | Analyst unavailable | $260 | $213.1 | +2.7% | Aug 26, 2026 |
| D.A. Davidson | Analyst unavailable | $210 | $212.32 | -17.1% | Jul 29, 2026 |
| Morgan Stanley | Chris Quintero | $180 | $168.17 | -28.9% | Jul 29, 2026 |
| Stifel Nicolaus | Parker Lane | $225 | $168.17 | -11.1% | Jul 29, 2026 |
| Loop Capital Markets | Analyst unavailable | $215 | $168.17 | -15.1% | Jul 29, 2026 |
| Stifel Nicolaus | Parker Lane | $200 | $135.42 | -21.0% | May 20, 2026 |
| Barclays | Analyst unavailable | $239 | $142.88 | -5.6% | Apr 23, 2026 |
| Redburn Partners | Analyst unavailable | $145 | $128.88 | -42.7% | Apr 16, 2026 |
| Truist Financial | Terry Tillman | $240 | $175.13 | -5.2% | Jan 15, 2026 |
| Barclays | Guy Hardwick | $237 | $175.64 | -6.4% | Jan 12, 2026 |
| Morgan Stanley | Analyst unavailable | $165 | $167.28 | -34.8% | Jan 5, 2026 |
| D.A. Davidson | Clark Wright | $250 | $191 | -1.3% | Oct 22, 2025 |
| Truist Financial | Terry Tillman | $230 | $204.66 | -9.2% | Oct 22, 2025 |
| Raymond James | Brian Peterson | $240 | $204.66 | -5.2% | Oct 22, 2025 |
| UBS | Analyst unavailable | $240 | $204.66 | -5.2% | Oct 22, 2025 |
| Barclays | Analyst unavailable | $244 | $204.66 | -3.6% | Oct 22, 2025 |
| Morgan Stanley | Analyst unavailable | $200 | $204.66 | -21.0% | Oct 22, 2025 |
| Morgan Stanley | Analyst unavailable | $195 | $200.76 | -23.0% | Oct 14, 2025 |
| Barclays | Guy Hardwick | $247 | $198.95 | -2.5% | Oct 7, 2025 |
| Stifel Nicolaus | Analyst unavailable | $250 | $198.95 | -1.3% | Oct 7, 2025 |
| Robert W. Baird | Joe Vruwink | $212 | $187.97 | -16.3% | May 21, 2025 |
| D.A. Davidson | Gil Luria | $200 | $171.95 | -21.0% | Apr 23, 2025 |
| D.A. Davidson | Gil Luria | $195 | $162.61 | -23.0% | Apr 14, 2025 |
| Raymond James | Brian Peterson | $305 | $268.72 | +20.4% | Oct 23, 2024 |
| D.A. Davidson | Gil Luria | $315 | $292.32 | +24.4% | Oct 23, 2024 |
| Robert W. Baird | Joe Vruwink | $304 | $295.54 | +20.1% | Oct 22, 2024 |
| Truist Financial | Terry Tillman | $310 | $296.16 | +22.4% | Oct 11, 2024 |
| Citigroup | George Kurosawa | $287 | $286 | +13.3% | Sep 25, 2024 |
| Loop Capital Markets | Mark Schappel | $265 | $226 | +4.7% | Jul 24, 2024 |
| Robert W. Baird | Joe Vruwink | $261 | $226 | +3.1% | Jul 24, 2024 |
| D.A. Davidson | Gil Luria | $260 | $223.45 | +2.7% | May 16, 2024 |
| D.A. Davidson | Gil Luria | $240 | $206.32 | -5.2% | Apr 25, 2024 |
| Truist Financial | Terry Tillman | $275 | $237.81 | +8.6% | Apr 15, 2024 |
| Raymond James | Analyst unavailable | $165 | $116.62 | -34.8% | Jul 27, 2022 |
| Rosenblatt Securities | Analyst unavailable | $150 | $120.72 | -40.8% | Jul 22, 2022 |
Track every rating change on MANH the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationManhattan Associates, Inc. develops comprehensive software solutions to manage and optimize supply chains, inventory, and omni-channel operations. Their product portfolio features Manhattan SCALE, a suite of logistics execution tools covering aspects like trading partner management, yard optimization, warehouse management, and transportation execution. Additionally, they offer Manhattan Active, which provides integrated enterprise and in-store omni-channel solutions. The company also supplies specialized solutions for inventory optimization, planning, and allocation.…
Historical context
All MANH earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| TSEM Tower Semiconductor Ltd. | FY2026 Q3 · Calendar Q4 2026 | +7.5% | -6.7% | Tower Semiconductor posts record Q3 as silicon photonics expansion advances |
| AAPL Apple Inc. | FY2026 Q4 · Calendar Q4 2026 | +3.0% | -1.8% | Apple posts a record quarter as cost and supply pressures persist |
| PLTR Palantir Technologies Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.3% | -3.1% | Palantir raises FY2026 outlook as revenue growth accelerates |
| ON ON Semiconductor Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.5% | -2.2% | ON Semiconductor: AI power demand leads, Q4 outlook upbeat |
| CHKP Check Point Software Technologies Ltd. | FY2026 Q3 · Calendar Q4 2026 | +0.4% | -7.0% | Check Point Sees Q3 as Revenue Trough, While Subscriptions Grow |
| FN Fabrinet | FY2027 Q1 · Calendar Q4 2026 | +3.3% | -3.8% | Fabrinet posts 51% growth as capacity expansion accelerates |
Latest beats and misses
Who reports nextBeat on EPS
- TSEMFY2026 Q3 · November 2, 2026+7.5% EPS-6.7% move
- CLXFY2027 Q1 · November 2, 2026+44.9% EPS+2.2% move
- AAPLFY2026 Q4 · November 2, 2026+3.0% EPS-1.8% move
- PLTRFY2026 Q3 · November 2, 2026+8.3% EPS-3.1% move
- ETRFY2026 Q3 · November 2, 2026+14.5% EPS-0.2% move
- OFY2026 Q3 · November 2, 2026+5.7% EPS+1.1% move
Missed on EPS
- VRTXFY2026 Q3 · November 2, 2026-1.2% EPS-1.0% move
- PEGFY2026 Q3 · November 2, 2026-3.4% EPS+0.1% move
- RYAAYFY2027 Q2 · November 2, 2026-0.3% EPS+2.9% move
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
Get the MANH recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-03T11:30:43.947788+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T11:30:43.945032+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.