Analyst Consensus ?
ConsensusBuy15 ratings
Bullish1280.0%
Neutral320.0%
Bearish00.0%
Manhattan Associates, Inc. · MANH · FY2026 Q1 · Calendar Q2 2026
Manhattan Associates Raises 2026 Guidance as Cloud Growth Accelerates
The quarter provides evidence for continued growth through cloud migration, recurring-platform adoption and early AI-agent traction. The evidence is constructive but incomplete: Active Agent monetization remains a pilot-stage question, and management identified macro, FX and overage-fee exposure as risks.
Reported After market closeNASDAQTechnology
$14.48B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.24
Consensus $1.10
EPS surprise
+12.7%
Reported versus consensus
Reported revenue
$282.2M
Consensus $273.7M
Revenue surprise
+3.1%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+5.9%
Event window
SPY move
+1.0%
Same window
Abnormal move
+4.9%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
-4.1%
Up to 20 sessions
MANHSPY benchmark
Ask FN2 about MANH FY2026 Q1
Transcript, numbers and history already loaded
Why did MANH rise 5.9% after beating EPS estimates in FY2026 Q1?What changed in MANH's guidance and outlook in FY2026 Q1?Give me the bull and bear case for MANH after FY2026 Q1 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, management moved from maintained to raised guidance. The current quarter added 24% cloud-revenue growth, 24% RPO growth, early quantified Active Agent pilot results and a larger order-management win, while the main open questions remain AI conversion, overage-fee durability, FX and services mix.
Guidance delta
Management raised full-year 2026 guidance to revenue of $1.147-$1.157 billion, adjusted operating margin of about 35%, and adjusted EPS of $5.29-$5.37.
Key takeaways
- Q1 revenue was $282 million, up 7% year over year, while cloud revenue rose 24% to $117 million.
- RPO increased 24% year over year to $2.35 billion, and new-logo bookings were 55% of cloud bookings.
- Management said early Active Agent pilots delivered measurable operating gains and is scaling paid 90-day pilots.
- The quarter's evidence supports a durable cloud-growth thesis, but recurring AI monetization is not yet established.
Management priorities
- Expand Active Agent Foundry and customer-built agents
- Hire forward-deployed engineers to accelerate AI deployments
- Continue on-premises-to-cloud conversions and unified-platform adoption
- Build toward a larger AI revenue contribution in 2027
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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 1, 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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Latest beats and misses
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Missed on EPS
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- 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 · 2026-11-01T01:50:44.806418+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-01T01:50:44.803662+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 2026-11-01. For educational purposes only; not investment advice.