Manhattan Associates builds software for supply chain, warehouse and transportation management used by retailers, third-party logistics providers and distributors. The business sits in Services-Prepackaged Software and sells a mix of cloud subscriptions and professional services to enterprise customers, a profile aligned with demand for logistics automation and inventory optimization.
The revenue trend shows steady recovery and re-acceleration: revenue rose from $238.4M in CY2023Q3 to $297.8M in CY2026Q2, and year-over-year revenue growth moved from the low single digits in 2025 back to +9.3% in 2026Q2. The dataset flags revenue as accelerating. GAAP diluted EPS has been more variable; GAAP diluted EPS peaked at $1.03 in CY2024Q3 and has since eased, with GAAP EPS of $0.85 in CY2026Q2, a year-over-year decline of about 8.6%, so earnings are not accelerating alongside revenue.
Technically the stock sits in an established uptrend. Price is above the 50-day and 200-day averages, the leader-selection model passed six of seven trend checks, and Weinstein classification is Stage 2 — Continuation. Accumulation metrics are constructive, with a 50-day up/down volume ratio of 1.31 and a six-month excess return versus the S&P 500 of 58.7%. Institutional participation is widespread by count — 718 reporting institutions — though institutions hold about 1.13% of shares reported.
Why now
Revenue acceleration into 2026 coincides with a constructive technical backdrop: a Stage 2 uptrend, supportive volume metrics and a recent three-month relative-strength jump versus the market, creating a time-sensitive opportunity to monitor momentum and fundamental follow-through.
The setup
Last close was $209.35 (2026-09-21), trading above the 50-day SMA ($194.33) and the 200-day SMA ($159.90). The 9-day EMA sits near price (price ~0.5% below EMA9) while price is ~0.3% above the 21-day EMA. RSI is neutral at 53.4. The leader model passed six of seven trend checks but failed the 150-day MA over 200-day MA condition; entry readiness is flagged as watch, not an actionable fresh breakout, with the setup 55 sessions past any prior trigger.
Revenue trajectory
Full-year revenue with year-over-year growth. Solid bars are calendar-year actuals from SEC EDGAR filings (XBRL); dashed bars are analyst consensus via Yahoo Finance (10 analysts), which is published two fiscal years out.Earnings trajectory
Solid bars are quarterly GAAP diluted EPS from SEC EDGAR filings. Dashed bars are analyst consensus, which is typically adjusted (non-GAAP). The two are measured differently, so a step between the last actual and the first estimate usually reflects that change in basis rather than a change in the business.Analyst full-year EPS consensus (typically adjusted): FY'26E $5.50 (+9%) · FY'27E $6.15 (+12%) — 10 analysts
Risks
GAAP diluted EPS has not accelerated with revenue and has shown recent year-over-year declines (GAAP EPS $0.85 in CY2026Q2, down ~8.6% YoY), which could pressure margins if costs rise. Institutional ownership is modest by percent held (about 1.13%), and average top-holder position changes are slightly negative, which could limit strong coordinated buying. The technical picture, while constructive, lacks a fresh confirmed breakout, so momentum could stall and allow a pullback toward shorter moving averages.
Framework fit
CANSLIM
5/7- CCurrent quarterly GAAP EPS growth ≥ 25%-9%✕
- AAnnual GAAP EPS growth ≥ 25%+3%✕
- NNew highs — within 15% of 52-week high-6.44%✓
- SSupply/demand — up-day volume leads1.31x✓
- LLeader — outperforming the S&P 500+33% 6m✓
- IInstitutional sponsorshipmodel score 6/10✓
- MMarket in a confirmed uptrendConfirmed uptrend✓
Minervini Trend Template
6/7Stage 2 confirmation checklist: price versus rising long-term moving averages and the 52-week range.
Weinstein Stage
Established uptrend: price is above a rising 30-week proxy, with the 200-day line used as a separate confirmation.