Manhattan Associates, Inc.

Valuation Analysis

About the Company

Manhattan Associates, Inc. develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers warehouse management solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and transportation management solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, call center, POS, and customer engagement tools for enterprises and stores. The company also provide

Manhattan Associates, Inc. Stock at a Glance

Manhattan Associates, Inc. (MANH) is currently trading at $142.92 with a market capitalization of $8.5B. The trailing P/E ratio stands at 40.03x, with a forward P/E of 24.01x. The 52-week range spans from $119.06 to $247.22; the current price is 42.2% below the yearly high. Year-over-year revenue growth stands at +7.4%. The net profit margin stands at 19.68%.

💰 Dividend

Manhattan Associates, Inc. currently does not pay a dividend. The company typically reinvests its earnings into growth initiatives and product development.

📊 Analyst Rating

11 analysts rate Manhattan Associates, Inc. (MANH) on consensus: Buy. The average price target is $184.00, implying +28.74% from the current price. Analyst price targets range from $145.00 to $240.00.

Manhattan Associates, Inc.: The Investment Case in Detail

Manhattan Associates, Inc. (MANH) operates in the Technology — specifically Software - Application — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.

The Bull Case

The combination of a 55.99% gross margin and 23.01% operating margin shows the business converts revenue into profit efficiently — a hallmark of competitive moat. Return on equity of 96.24% places management among the most capital-efficient operators in the public market — every euro of shareholder capital is working hard. Free cash flow is positive and net margins stand at 19.68%, meaning reported earnings translate into real cash that can fund buybacks, dividends or strategic acquisitions.

The Bear Case

Our valuation screen flags the stock as overvalued — current multiples imply the business needs to deliver well above its recent trajectory to justify the price.

Valuation in Context

The EV/EBITDA multiple of 28.75x reflects rich expectations — historically, multiples at this level have proven hard to maintain for more than a few quarters.

What to Watch Next

• The forward P/E of 24.01x is meaningfully below the trailing 40.03x — analysts expect earnings to step up; the next earnings release is the test.
• The price sits in the lower quartile of the 52-week range — value hunters often start scaling in around this zone if fundamentals hold.
• The analyst consensus price target implies 28.74% upside — if the next two quarters confirm the underlying thesis, target hikes typically follow.

Investment Thesis: Strengths & Weaknesses

Technical Snapshot

The price is in a transition zone relative to the moving averages — no clear signal.

Risk Profile

The data points to relatively defensive market behavior, elevated short interest (6.18%).

Trading Data

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