Manhattan Associates (MANH) is down about 3.7% in the latest session, with the selloff largely linked to lingering concern over the company’s FY2026 earnings outlook. Recent trading has repeatedly pointed back to guidance that came in below expectations, which has kept sentiment fragile even after solid quarterly execution. �citeturn2search8turn0search8turn0search10

The reset traces back to Manhattan’s Q4 2025 report and its full-year 2026 EPS guidance, which multiple market summaries flagged as the key disappointment that outweighed the quarterly beat. With the stock already sensitive to forward margin and spending assumptions, incremental risk-off flows can translate into sharper down days when there is no new positive catalyst to counter the guidance overhang. �citeturn0search8turn0search10turn2search8

Adding to the focus is an upcoming finance-leadership change: the company has disclosed that long-serving CFO Dennis Story is set to retire on March 31, 2026, with Linda Pinne slated to step into the CFO role, while Story remains an advisor through the end of 2026. Even when planned, a CFO handoff can increase scrutiny on forecasting discipline, cost controls, and share-repurchase pacing—areas that matter more when guidance is already being debated. �citeturn1search3

Key near-term watch items are any reiteration or recalibration of FY2026 targets, evidence of re-acceleration in services and subscription trends, and signals on operating leverage as the year progresses. Investors will also be monitoring how the company balances investment in product and cloud initiatives versus margins and buybacks amid a market that has been less forgiving toward software names with muted near-term EPS trajectories. �citeturn0search8turn2search7turn2search8