Manhattan Associates, Inc. research snapshot
MANH AI stock analysis currently reads Manhattan Associates as a high-quality supply chain commerce software company with a growing cloud platform, strong cash generation, and meaningful customer switching costs. At the July 12, 2026 data cutoff, the latest verified close was $154.90 on July 10, 2026, and the market capitalization was about $9.16 billion. The investment case depends on Manhattan Active cloud growth, RPO conversion, professional-services recovery, and sustained product leadership. The main constraint is valuation: the stock traded at about 43.4 times TTM EPS and 24.1 times TTM free cash flow. This page presents scenarios for information only and is not investment advice.
Current price
$154.90
Market cap
$9.16 billion
AI score
70 / 100
Rating
High-quality supply chain software compounder, but premium valuation and execution risk limit the margin of safety
Trend status
Neutral to recovering, above the 50-day average but below the 200-day average
Data cutoff (updated weekly)
July 12, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Manhattan coordinates warehouse, transportation, order, inventory, and omnichannel workflows. FY2025 revenue reached $1.081 billion and Q1 2026 revenue grew 7.4% year over year. | High |
| Moat | The moat comes from mission-critical workflows, implementation knowledge, embedded data, customer process changes, platform breadth, and a long history in warehouse management software. | High |
| Management | CEO Eric Clark has a technology and transformation background and is steering cloud and AI investment. The newer leadership team must still prove execution through a full cycle, including the 2026 CFO transition. | Medium |
| Financial trend | FY2021 to FY2025 revenue rose from $663.6 million to $1.081 billion, while operating margin expanded from 20.2% to 25.9% and free cash flow reached $374.0 million in FY2025. | High |
| Valuation | At $154.90, verified math shows about 43.4x TTM EPS, 24.1x TTM free cash flow, 8.3x sales, and a 4.14% free-cash-flow yield. The price leaves limited room for a growth miss. | High |
| Technical trend | MANH was above its 20-day and 50-day moving averages in the July 6 snapshot, but below the 200-day average at the July 10 close. ChartMill still showed both short-term and long-term trends as down. | Medium |
| Risk level | Key risks include enterprise project delays, services weakness, cloud implementation execution, strong software competition, cybersecurity incidents, talent retention, AI product disruption, and valuation compression. | Medium-high |
| AI confidence | High confidence for reported data and cross-checks, with medium confidence for technical timing and forward price ranges. | High data confidence |
| Investment certainty | Medium certainty. Manhattan appears to be a strong business, but the current price requires durable cloud growth, healthy margins, and continued customer adoption. | Medium |
MANH AI stock forecast
The MANH AI stock forecast uses a three-year earnings scenario around the $154.90 cutoff price and TTM EPS of $3.57. The financial rigor model produced a bullish anchor near $211.60, a base anchor near $143.90, and a bearish anchor near $73.50. These ranges are scenario outputs, not promises or reliable price predictions.
$195 to $225
More likely if cloud subscriptions keep growing at a strong double-digit rate, RPO converts into revenue, services demand recovers, AI features improve platform value, and investors continue to award a premium multiple near 40x future earnings.
$130 to $155
More likely if revenue growth stays near management guidance, EPS compounds around 8% annually, margins remain healthy, and the valuation settles near a low-30s earnings multiple as growth normalizes.
$70 to $90
More likely if large implementations are delayed, services and license revenue keep falling, cloud competition increases, AI reduces software differentiation, or investors re-rate MANH toward a mid-20s earnings multiple.
MANH AI technical analysis
MANH AI technical analysis is mixed as of the July 12, 2026 data cutoff, using the July 10 close and public technical snapshots from July 6 to July 9. StockAnalysis listed the close at $154.90, with a 50-day moving average of $141.69 and a 200-day average of $158.56. TipRanks showed neutral RSI, a positive short-term moving-average setup, and a sell signal from MACD. ChartMill identified resistance near $164.93 and $187.45 while its short and long trend indicators remained negative.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $154.90 | StockAnalysis closing price on July 10, 2026, used for the valuation and market-cap calculations. |
| 20-day moving average | $139.90 SMA / $139.76 EMA | TipRanks snapshot dated July 6 showed price above both references, a short-term positive signal. |
| 50-day moving average | $141.69 SMA | StockAnalysis daily statistics reference. Holding above this area supports the recent recovery setup. |
| 200-day moving average | $158.56 SMA | StockAnalysis daily statistics reference. A sustained move above it would improve the longer-term trend picture. |
| Resistance | $164.93 and $187.45 | ChartMill technical snapshot identified these two important resistance areas. |
| Support | $142.57 and $138.73 | Classic pivot support references from the TipRanks July 6 snapshot. A move below them would weaken the recovery. |
| Momentum | RSI 62.10 to 62.50; MACD 0.24 | RSI was neutral and MACD was flagged as sell in the TipRanks snapshot, so momentum was not one-directional. |
| Volume and volatility | 680,897 average volume; ATR 6.84 | StockAnalysis reported average 20-day volume of 680,897 shares and TipRanks reported ATR(14) of 6.84. Confirm live data before acting. |
| Invalidation | Daily close below $138.73 | A close below the lower pivot support would invalidate the short-term recovery framework and require a fresh risk review. |
MANH AI trading strategy
The MANH AI trading strategy is a rules-based framework for a high-quality enterprise software stock. It is not personal advice. Any implementation should use a live chart, position sizing, a defined loss limit, earnings-date awareness, and checks on cloud growth, RPO, services revenue, and valuation.
Watch for a sustained close above the $158.56 200-day average, followed by a break of the $164.93 resistance area with healthy volume. Confirmation should include stable cloud growth, RPO conversion, and no negative guidance change.
A failed breakout followed by a close below the 50-day area or $138.73 support reduces confidence in the trend setup.
If MANH pulls back toward $138.73 to $142.57 without a cloud, RPO, margin, or guidance warning, compare the new price with TTM P/E, FCF yield, net cash, and the expected earnings growth rate before considering a rules-based rebound setup.
Do not average down automatically. An enterprise software stock can fall further when large customer projects are delayed or a high multiple resets.
Track cloud subscription growth, RPO, new customer bookings, recurring revenue mix, services recovery, GAAP operating margin, stock-based compensation, repurchases, executive turnover, and AI product adoption each quarter.
Reduce confidence if EPS growth depends on buybacks or non-GAAP adjustments while revenue quality, services demand, or cash conversion deteriorates.
Investment research summary
Manhattan helps retailers, manufacturers, distributors, and logistics providers coordinate inventory, warehouse labor, transportation, orders, and omnichannel fulfillment. Customers pay because these workflows are mission-critical, operationally complex, and costly to replace once embedded.
The moat combines domain expertise, implementation history, customer data, platform breadth, switching costs, and scale in warehouse management and omnichannel commerce. Gartner recognized Manhattan Active Warehouse Management as a WMS leader 17 times in a row in 2025. The moat is meaningful but still exposed to SAP, Oracle, Blue Yonder, Descartes, and well-funded specialists.
The thesis fails if cloud migrations take longer than expected, services revenue stays weak, customers consolidate vendors, product innovation slows, cybersecurity damages trust, or AI makes parts of supply chain software easier to replace. The short case also argues that current margins and valuation may already assume successful execution.
Eric Clark became president and CEO in February 2025 after senior roles at NTT DATA, ServiceNow, Dell, and Hewlett Packard Enterprise. Management has continued cloud and AI investment and repurchased $150 million of stock in Q1 2026. The key test is whether capital allocation, customer adoption, and execution remain strong after the CFO transition effective March 31, 2026.
Supply chains are becoming more digital, automated, and data-dependent as retailers manage omnichannel fulfillment, labor constraints, inventory complexity, and resilience. This is a durable technology transition, but enterprise software budgets are cyclical and platform consolidation can shift bargaining power toward larger suites.
At about 43.4x TTM EPS, 24.1x TTM free cash flow, and 8.3x sales, MANH is priced for continued quality. The margin of safety improves only if cloud growth, RPO, cash flow, and customer retention remain strong while the price or multiple becomes more reasonable.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| Price and market capitalization | $154.90 closing price on July 10, 2026 and $9.16 billion market cap, verified as $154.90 x 59.164602 million shares | StockAnalysis statistics and SEC Q1 2026 10-Q | July 12, 2026 |
| FY2025 revenue and mix | $1.081 billion total revenue; $408.1 million cloud subscriptions, $503.0 million services, and 50% recurring revenue excluding hardware | SEC 2025 Form 10-K and 2026 proxy statement | July 12, 2026 |
| FY2021 to FY2025 financial trend | Revenue rose from $663.6 million to $1.081 billion; operating margin rose from 20.24% to 25.87%; FY2025 free cash flow was $374.01 million | StockAnalysis financials and Macrotrends history | July 12, 2026 |
| Q1 2026 results | $282.2 million revenue, $117.1 million cloud subscription revenue, $49.3 million net income, $0.82 GAAP diluted EPS, and $1.24 adjusted diluted EPS | SEC Q1 2026 earnings release and Form 10-Q | July 12, 2026 |
| RPO and 2026 guidance | RPO was $2.35 billion at March 31, 2026; 2026 revenue guidance was $1.147 billion to $1.157 billion with GAAP EPS guidance of $3.55 to $3.63 | SEC Q1 2026 earnings release | July 12, 2026 |
| Cash, debt, and free cash flow | $226.13 million cash, $55.69 million lease debt, $170.45 million net cash, and $379.59 million TTM free cash flow at the latest available quarter | SEC Q1 2026 Form 10-Q and StockAnalysis | July 12, 2026 |
| Technical snapshot | $141.69 50-day average, $158.56 200-day average, RSI near 62, 20-day average volume of 680,897 shares, and $164.93 near resistance | StockAnalysis, TipRanks, and ChartMill | July 12, 2026 |
| Management and ownership | Eric Clark is president and CEO; insider ownership was reported at 0.99% and the 2026 proxy highlights cloud demand, AI investment, and the CFO transition | Manhattan leadership page and 2026 proxy statement | July 12, 2026 |
This MANH page is an informational research tool, not investment advice, a recommendation, or a promise of returns. Forecasts are scenario ranges based on available data and assumptions that may be wrong. Verify current filings, prices, technical levels, and your own risk constraints before making any decision.
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