Manhattan Associates Sees 23% ARR Surge, Analysts Set $230–$240 Targets
Raymond James lowered Manhattan Associates’ price target to $230 from $240 after Q4 2025 results delivered record remaining performance obligations and 23% fully ramped ARR growth driven by 55% of new cloud bookings. Truist Securities reaffirmed a Buy rating with a $240 target implying 70.9% upside.
1. Q4 2025 Financial Performance
Manhattan Associates reported record Q4 remaining performance obligations and achieved 23% fully ramped annual recurring revenue growth, with 55% of new bookings from cloud services under CEO Eric Clark’s leadership. This momentum underscores strong demand for its supply chain and warehouse management solutions.
2. Analyst Price Target Adjustments
Raymond James cut its price target to $230 from $240 while maintaining an Outperform rating, citing durable subscription growth catalysts despite broader software volatility. On the same day, Truist Securities reaffirmed its Buy rating with a $240 target, reflecting an implied upside of nearly 71%.