NASDAQ · STOCK
Manhattan Associates
$191.37
52W $119.06 – $220.72
55/100
$11.32B
54.4
0.97
Is MANH Bullish or Bearish?
Mixed.
Innellis AI committee rates Manhattan Associates (MANH) Watch with a composite score of 55/100
, based on 7 analysts with 71% agreement.
Last updated July 31, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +4.56 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Reduce
- Requires the score to fall below 40.0 — -15.44 from today. The band boundary is 45.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee sees neither a compelling opportunity nor a clear risk at this stage. Conditions remain neutral — patience is warranted.
Bull & Bear Case
Bull Case
- ROE of 85.2% shows genuine earnings power backing the valuation — Value
- 5 consecutive earnings beats -- consistent execution — Growth
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
- MACD histogram positive -- bullish momentum — Technical
- Weekly trend (sideways) confirms the daily trend -- multi-timeframe agreement — Technical
- Low leverage (debt-to-equity 0.00) -- balance sheet can absorb a shock — Risk
Bear Case
- P/E of 53.2 is expensive by classic value standards — Value
- Price-to-book of 33.2x prices in significant intangible value — Value
- EPS declining -2.6% YoY despite any revenue growth — Growth
- Price trading above the upper Bollinger Band -- stretched — Technical
- Bollinger bandwidth of 34.2% signals elevated volatility — Risk
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of July 31, 2026
Overall Committee Score
55/100
Agreement
71%
Analysts
7
Conviction
Moderate
Sector Rank
Top 34%
of 172 Technology peers
Value Analyst
neutral
49
/ 100 · High confidence
Fair value -- neither a bargain nor obviously overpriced
+ ROE of 85.2% shows genuine earnings power backing the valuation
− P/E of 53.2 is expensive by classic value standards
Growth Analyst
neutral
56
/ 100 · High confidence
Moderate growth -- present but not remarkable
+ 5 consecutive earnings beats -- consistent execution
− EPS declining -2.6% YoY despite any revenue growth
Technical Analyst
bullish
61
/ 100 · High confidence
Price action is constructive -- trend and momentum agree
+ MACD histogram positive -- bullish momentum
− Price trading above the upper Bollinger Band -- stretched
Risk Analyst
neutral
58
/ 100 · Moderate confidence
Moderate risk -- no single red flag, but nothing that clearly de-risks the position either
+ Low leverage (debt-to-equity 0.00) -- balance sheet can absorb a shock
− Bollinger bandwidth of 34.2% signals elevated volatility
Macro Analyst
neutral
58
/ 100 · Moderate confidence
Macro backdrop is mixed or neutral -- not a strong tailwind or headwind either way
+ Market regime is bullish (Bull market -- normal position sizing)
News Analyst
bullish
62
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
Portfolio Manager
neutral
45
/ 100 · High confidence
Portfolio-level factors are mixed -- worth a deliberate sizing decision, not a default-size position
+ Portfolio position concentration is currently healthy
− Sector concentration is already high (HHI 2744.14)
Investment Thesis Evolution
Committee score moved marginally from 57.2 to 55.4.
- Conviction changed from contested to moderate.
- Committee agreement increased notably from 57% to 71%.
- New bearish signals: 5 appeared.
- Bullish support removed: 1 signal(s) disappeared.
- New bullish signals: 2 appeared.
- Bearish pressure eased: 6 signal(s) disappeared.
- Analyst(s) changed stance: Growth Analyst, Macro Analyst, Technical Analyst.
Analyst-level changes:
- Growth Analyst: stance bullish->neutral; score 68->56 (-12); +1 bearish signal(s).
- Macro Analyst: stance bullish->neutral; score 65->58 (-8); +1 bullish signal(s).
- Portfolio Manager: +2 bearish signal(s).
- Risk Analyst: +1 bearish signal(s).
- Technical Analyst: stance neutral->bullish; score 54->61 (+8).
- Value Analyst: +1 bearish signal(s); +1 bullish signal(s).
Comparing 2026-07-30 to 2026-07-31 (1 day apart).
Technical Analysis
RSI (14)
69.5
Neutral
MACD Histogram
3.735
Bullish Momentum
Trend Direction
Sideways
Weekly: Sideways
Market Structure
Hh Hl
Support
$184.20
Resistance
$197.32
Bollinger %B
0.96
Inside Bands
Price vs Moving Averages
EMA 9
$175.93
Above
EMA 21
$164.48
Above
EMA 50
$154.02
Above
EMA 200
$158.65
Above
Fundamental Analysis
Valuation
33
Growth
82
Profitability
2
Financial Health
58
Cash Flow
37
Valuation
P/E Ratio
54.4×
P/B Ratio
71.95×
PEG Ratio
-17.94
Dividend Yield
0.00%
52W High
$220.72
52W Low
$119.06
Quality & Growth
ROE
69.9%
ROA
26.2%
Gross Margin
54.6%
Operating Margin
24.3%
Revenue Growth YoY
—
Debt / Equity
0.34
AI Fundamental Assessment
P/E ratio of 54.4 (rich relative to a 15-40x range); Price-to-book of 71.9x; PEG ratio of -17.9 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 0.7%; Return on assets of 0.3%; Net margin of 0.2%; Gross margin of 0.5%; Current ratio of 0.98 (tight short-term liquidity); Debt-to-equity of 0.34; Free cash flow margin of 1.0% (thin cash generation); Free cash flow per share is positive (6.74); Most recent quarter beat estimates by 3.4%; 5 consecutive earnings beats; EPS growth accelerating (+2.5% -> +12.1% QoQ); Average YoY EPS growth of 6.1%; Analyst estimates rising over recent quarters
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