How Manhattan Associates' Cloud Momentum and Q3 Beat Framed Barclays' Latest Call

Manhattan Associates, Inc. (NASDAQ:MANH) is one of the best logistics-tech stocks to buy now.

As of December 5, around two-thirds of analysts covering Manhattan Associates, Inc. (NASDAQ:MANH) rate it Buy or equivalent. While the stock has underperformed the broader market substantially year to date, the consensus 1-year median price target of $234.50 implies nearly 31% upside.

On November 13, 2025, Barclays reaffirmed its Overweight rating on Manhattan Associates while slightly lowering the 12-month price target from $244 to $239. The firm’s revised target reflected an updated post-third-quarter model that adjusted for recent earnings metrics while maintaining confidence in the company’s long-term positioning.

The rating update followed Manhattan Associates’ third-quarter earnings release on October 24. The company posted total revenue of $238 million, up 20% year over year, and adjusted EPS of $1.03, exceeding analyst expectations. Software license revenue rose 44% to $17.5 million, while cloud subscriptions climbed 41% to $84.5 million. During the earnings call, management emphasized sustained demand across its omnichannel and warehouse solutions, with deal activity remaining strong despite broader macro uncertainty. The company also raised full-year revenue and EPS guidance, citing robust customer pipelines and continued momentum in its cloud transition.

Barclays’ updated price target appears to factor in the near-term pace of that momentum while retaining an overall bullish stance on Manhattan Associates' growth trajectory.

Manhattan Associates, Inc. (NASDAQ:MANH) provides supply chain and omnichannel commerce software solutions for retailers, wholesalers, and logistics providers worldwide.

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Disclosure: None.