New York, May 30, 2026, 14:09 (EDT)
Manhattan Associates Inc. (MANH) climbed 4.8% Friday, finishing at $150.05. The stock is now up about 8.2% from last Friday’s close. U.S. markets were closed Monday for Memorial Day, with Nasdaq listing May 25 as a holiday. MANH reopened Tuesday and ran higher into the end of the week.
Stocks rose with the market this week, not alone. The S&P 500 logged its ninth week higher, and the Nasdaq Composite was up 2.4% for the week, according to AP. That momentum helped growth-software stocks stay firm in June.
Barclays’ Guy Hardwick lowered his price target for Manhattan Associates to $201 from $239 on Friday but left his Overweight rating unchanged, The Fly reported via TipRanks. The Overweight call signals Hardwick still sees the stock beating peers in Barclays’ coverage.
Manhattan hasn’t posted new numbers since its first-quarter report in April, and the market is using that as a reference point. The company put out revenue of $282.2 million, up from $262.8 million a year ago. Cloud subscription sales hit $117.1 million, higher than $94.3 million last year. Adjusted EPS came in at $1.24. CEO Eric Clark pointed to “solid and broad-based demand” and said bookings were “better than expected.”
Backlog is in focus for the stock too. At March 31, remaining performance obligations—booked sales not yet counted as revenue—were $2.35 billion. That figure is one way investors look at future sales for software firms with lots of subscriptions. But it doesn’t equal cash on hand.
Manhattan is leaning into artificial intelligence to pitch a new story to investors. At the Momentum event, Chief Product Officer Brian Kinsella said Sightline gives planning teams “a powerful new way to understand the drivers behind every outcome.” Chief Technology Officer Sanjeev Siotia said Solution Design Studio can help customers “move faster.” Work that used to take months “can now be done in minutes,” Siotia said. Manhattan
Gartner says the race for warehouse management systems in 2026 is tight, with vendors fighting on cost, automation, robotics, AI, ease of use and how fast companies can get up and running. Manhattan has to go up against rivals like Blue Yonder, SAP and Oracle, which Gartner puts in the same group.
Manhattan is up next with a William Blair Growth Stock Conference slot set for June 3 at 3:00 p.m. EDT. On June 5, the May U.S. jobs report hits at 8:30 a.m., a key number for rate-focused growth stocks.
But the setup carries risk. Manhattan’s annual filing says using generative and agentic AI could lead to operational, compliance and legal issues. The filing also says customers in some regulated sectors might hesitate to use AI tools. If that slows deals or if rivals in WMS push on price and rollout, Friday’s move could face pressure fast.
Buyers are in control for now. With no earnings report next week, it’s a simple debate: was Friday’s move just a catch-up to a hot tape, or are some betting early that Manhattan’s AI story will drive more cloud subscription sales?
