Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.53, read 2026-10-27
Ethical does not pass the values gate
Price238.19 USD
Fair value199.64
Ethical score70.0/100
Our investment reviews on this name
2026-10-22Read Markup225.43+5.7% to today ✓Accumulation gives way to Markup after a 10% rise in 11 days
2026-10-11Read Accumulation204.15+16.7% to today ✓Markdown gives way to Accumulation
2026-10-02Read Markdown204.15+16.7% to today Accumulation gives way to Markdown
2026-09-04Read Accumulation213.10+11.8% to today ✓Markup gives way to Accumulation after a 12% rise in 4 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Manhattan Associates, Inc. holds its Markup at $238.19. Consolidating, no directional conviction, held for 39 days.
As held on the ledger · 2026-10-23
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 39 days
Price at the screen
$238.19
Valuation
68.94 trailing · 36.68 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.95
The Workings
Five Screens, Shown in Full
Does not pass. Accounts receivable
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
6.69%
Below 33%
Interest-bearing debt is just 6.7% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
64.74%
Below 49%
Money owed to the company is 64.7% of assets, above the 49% limit.
Fail
Revenue purity
0.41%
Below 5%
Only 0.4% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Manhattan Associates,'s business is fine, but its receivables are about 65% of its assets, well over the ~49% line, so it does not pass on the financial screens.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
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Get an email when MANH's ethical verdict changes
Today MANH does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. The price runs 16.2% above the base estimate.
Third-party analyst targets: 10 covering, consensus Buy. The average target sits +1% from the screen price.
Reading the gap · Both our model and the Street see limited upside at this price.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Warehouse software that keeps shelves stocked
Every time a retailer restocks a shelf or fulfils an online order without delay, Manhattan Associates sits in the background handling the flow. The firm posts a 20 percent profit margin and a striking 96 percent return on equity while clearing its ethical screen without issue.
Yet the numbers do not point to a bargain. Revenue is growing just 7 percent, the forward multiple sits at 27.4 times, and our fair value sits only 4 percent above the current price. With an opportunity rating of none, the shares offer little margin for error.
High returns can fade when growth stays modest and competition in supply-chain software intensifies. Currency moves and customer concentration add further pressure that the thin valuation cushion does little to offset. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
MANH trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-27Markup$225.43+0.0%Entry 16
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 41% above its long-term trend line with momentum reading overbought. Over the past year the shares are down 24%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (11 analysts) rates it buy, with a mean price target of $187. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Markup$225.43+0.0%Entry 15
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 41% above its long-term trend line with momentum reading overbought. Over the past year the shares are down 24%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (11 analysts) rates it buy, with a mean price target of $187. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Markup$225.43+0.0%Entry 14
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 36% above its long-term trend line with momentum reading overbought. Over the past year the shares are down 24%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (11 analysts) rates it buy, with a mean price target of $187. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Markup$225.43+0.0%Entry 13
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 36% above its long-term trend line with momentum reading overbought. Over the past year the shares are down 24%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (11 analysts) rates it buy, with a mean price target of $187. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Markup$225.43+0.0%Entry 12
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 36% above its long-term trend line with momentum reading overbought. Over the past year the shares are down 24%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (11 analysts) rates it buy, with a mean price target of $187. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Markup · changed$225.43+0.0%Entry 11
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 36% above its long-term trend line with momentum reading overbought. Over the past year the shares are down 24%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (11 analysts) rates it buy, with a mean price target of $187. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Accumulation$225.43+0.0%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 36% above its long-term trend line with momentum reading overbought. Over the past year the shares are down 24%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (11 analysts) rates it buy, with a mean price target of $187. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-20Accumulation$225.43+1.2%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 1.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 36% above its long-term trend line with momentum reading overbought. Over the past year the shares are down 24%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (11 analysts) rates it buy, with a mean price target of $187. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Accumulation$222.71+9.1%Entry 8
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 9.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 24%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (11 analysts) rates it buy, with a mean price target of $187.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 24%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (11 analysts) rates it buy, with a mean price target of $187.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
