Analyst Consensus ?
ConsensusBuy15 ratings
Bullish1280.0%
Neutral320.0%
Bearish00.0%
Manhattan Associates, Inc. · MANH · FY2025 Q4 · Calendar Q1 2026
Manhattan Associates pairs cloud momentum with a measured 2026 outlook
The call supports a constructive but qualified view: cloud conversions, bookings and AI-related upsell opportunities underpin growth, while maintenance attrition, service visibility and macro-sensitive bookings temper confidence.
Reported After market closeNASDAQTechnology
$14.48B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.21
Consensus $1.11
EPS surprise
+9.0%
Reported versus consensus
Reported revenue
$270.4M
Consensus $264.7M
Revenue surprise
+2.1%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-5.1%
Event window
SPY move
-0.0%
Same window
Abnormal move
-5.1%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
-13.4%
Up to 20 sessions
MANHSPY benchmark
Ask FN2 about MANH FY2025 Q4
Transcript, numbers and history already loaded
Why did MANH fall 5.1% after beating EPS estimates in FY2025 Q4?What changed in MANH's guidance and outlook in FY2025 Q4?Give me the bull and bear case for MANH after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management reported record cloud bookings and 25% RPO growth for Q4 2025, while its 2026 outlook calls for roughly 10% revenue growth and 21% cloud growth. Compared with Q3's raised full-year 2025 outlook, guidance sentiment is now maintained; the focus shifts to delivering the 2026 plan while expanding AI-agent capabilities.
Guidance delta
Management maintained its outlook, targeting roughly 10% revenue growth, 21% cloud revenue growth and adjusted operating margin expansion to about 35% in 2026. The prior quarter had raised full-year 2025 guidance.
Key takeaways
- Q4 2025 brought record cloud bookings, up 20%, and RPO growth of 25% to $2.2 billion.
- Management's 2026 targets call for roughly 10% total revenue growth and 21% cloud revenue growth, with adjusted operating margin expansion to about 35%.
- The company launched its agentik.ai AI-agent platform and agent foundry, with further agents and a fulfillment simulation feature planned.
- Management cited win rates above 70%, new-logo momentum and an expanded services team to support implementations and AI projects.
Management priorities
- Continue converting on-premise WMS and TMS customers to the cloud.
- Roll out additional AI agents and enhancements through 2026, including fulfillment optimization simulation.
- Expand the partner program and integrations with Google, Shopify and global systems integrators.
- Scale services capacity to support cloud implementations and AI projects.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$248.39Current
$145Low
$229.25Average
$305High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 2, 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 |
|---|---|---|---|---|
| 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 |
| Barclays | Overweight | Overweight | Maintain | Sep 8, 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 current price $248.39. 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 | +22.8% | Oct 28, 2026 |
| Stifel Nicolaus | Parker Lane | $300 | $233.98 | +20.8% | Oct 28, 2026 |
| Morgan Stanley | Chris Quintero | $250 | $204.89 | +0.6% | Oct 12, 2026 |
| UBS | Analyst unavailable | $210 | $206.03 | -15.5% | Sep 28, 2026 |
| Robert W. Baird | Analyst unavailable | $260 | $213.1 | +4.7% | Aug 26, 2026 |
| D.A. Davidson | Analyst unavailable | $210 | $212.32 | -15.5% | Jul 29, 2026 |
| Morgan Stanley | Chris Quintero | $180 | $168.17 | -27.5% | Jul 29, 2026 |
| Stifel Nicolaus | Parker Lane | $225 | $168.17 | -9.4% | Jul 29, 2026 |
| Loop Capital Markets | Analyst unavailable | $215 | $168.17 | -13.4% | Jul 29, 2026 |
| Stifel Nicolaus | Parker Lane | $200 | $135.42 | -19.5% | May 20, 2026 |
| Barclays | Analyst unavailable | $239 | $142.88 | -3.8% | Apr 23, 2026 |
| Redburn Partners | Analyst unavailable | $145 | $128.88 | -41.6% | Apr 16, 2026 |
| Truist Financial | Terry Tillman | $240 | $175.13 | -3.4% | Jan 15, 2026 |
| Barclays | Guy Hardwick | $237 | $175.64 | -4.6% | Jan 12, 2026 |
| Morgan Stanley | Analyst unavailable | $165 | $167.28 | -33.6% | Jan 5, 2026 |
| D.A. Davidson | Clark Wright | $250 | $191 | +0.6% | Oct 22, 2025 |
| Truist Financial | Terry Tillman | $230 | $204.66 | -7.4% | Oct 22, 2025 |
| Raymond James | Brian Peterson | $240 | $204.66 | -3.4% | Oct 22, 2025 |
| UBS | Analyst unavailable | $240 | $204.66 | -3.4% | Oct 22, 2025 |
| Barclays | Analyst unavailable | $244 | $204.66 | -1.8% | Oct 22, 2025 |
| Morgan Stanley | Analyst unavailable | $200 | $204.66 | -19.5% | Oct 22, 2025 |
| Morgan Stanley | Analyst unavailable | $195 | $200.76 | -21.5% | Oct 14, 2025 |
| Barclays | Guy Hardwick | $247 | $198.95 | -0.6% | Oct 7, 2025 |
| Stifel Nicolaus | Analyst unavailable | $250 | $198.95 | +0.6% | Oct 7, 2025 |
| Robert W. Baird | Joe Vruwink | $212 | $187.97 | -14.7% | May 21, 2025 |
| D.A. Davidson | Gil Luria | $200 | $171.95 | -19.5% | Apr 23, 2025 |
| D.A. Davidson | Gil Luria | $195 | $162.61 | -21.5% | Apr 14, 2025 |
| Raymond James | Brian Peterson | $305 | $268.72 | +22.8% | Oct 23, 2024 |
| D.A. Davidson | Gil Luria | $315 | $292.32 | +26.8% | Oct 23, 2024 |
| Robert W. Baird | Joe Vruwink | $304 | $295.54 | +22.4% | Oct 22, 2024 |
| Truist Financial | Terry Tillman | $310 | $296.16 | +24.8% | Oct 11, 2024 |
| Citigroup | George Kurosawa | $287 | $286 | +15.5% | Sep 25, 2024 |
| Loop Capital Markets | Mark Schappel | $265 | $226 | +6.7% | Jul 24, 2024 |
| Robert W. Baird | Joe Vruwink | $261 | $226 | +5.1% | Jul 24, 2024 |
| D.A. Davidson | Gil Luria | $260 | $223.45 | +4.7% | May 16, 2024 |
| D.A. Davidson | Gil Luria | $240 | $206.32 | -3.4% | Apr 25, 2024 |
| Truist Financial | Terry Tillman | $275 | $237.81 | +10.7% | Apr 15, 2024 |
| Raymond James | Analyst unavailable | $165 | $116.62 | -33.6% | Jul 27, 2022 |
| Rosenblatt Securities | Analyst unavailable | $150 | $120.72 | -39.6% | 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
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| TWLO Twilio Inc. | FY2026 Q3 · Calendar Q4 2026 | +12.2% | -15.2% | Twilio raises growth outlook as AI and software adoption expand |
| SNDK Sandisk Corporation | FY2027 Q1 · Calendar Q4 2026 | +6.1% | -13.5% | SNDK: AI-driven NAND demand remains strong, but execution risks persist |
| RBLX Roblox Corporation | FY2026 Q3 · Calendar Q4 2026 | +26.2% | -18.1% | Roblox pairs strong engagement with lower Q4 bookings guidance |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- 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
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— 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 · 2026-11-02T00:10:49.917390+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-02T00:10:49.914679+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 2026-11-02. For educational purposes only; not investment advice.