On 12/12/2024, MANH closed at $309.78.
On that date, ERS’s V1™ rating was 100, the PRI™ was 99, and the FRR™ was 94.
ERS’s eValuation™ rating was -142.

Manhattan Associates closed today at $222.84. It fell 28.1% on the past 48 days.
On page 3 you’ll see some of most recent ratings and recommendations by some of Wall Street’s largest firms.

By Raymond M. Mullaney, CEO
January 29, 2025

5-Year Study
(1/29/20 to 1/29/25)

V1™ # of Days Avg
1-Yr Return
Prob.
Of Gain
A+ 6 175% 100%
A 7 149% 100%
B 16 120% 100%
C 97 80% 100%
D 393 40% 97%
E 82 32% 87%
F 406 18% 56%
Total 1007 37% 80%

10-Year Study
(1/29/15 to 1/29/25)

V1™ # of Days Avg
1-Yr Return
Prob.
Of Gain
A+ 9 149% 100%
A 16 115% 100%
B 132 57% 100%
C 565 26% 67%
D 725 20% 69%
E 128 24% 82%
F 695 11% 58%
Total 2270 23% 68%

The data in these tables provides ERS’s analysis of the historical one-year returns of Manhattan Associates (MANH) based on its V1™ rating at the time of purchase. The findings reveal a strong correlation between the V1 rating and investment success.

  • If an investor purchased MANH on days when its V1™ rating was A+ or A (or B in the 5-year study), the average 1-year return exceeded 100%, with every trade resulting in a gain (100% probability of profit).
  • In contrast, buying MANH when it had an F rating led to significant underperformance:
    • In the 5-year study, buying MANH when it had an F rating led to returns of 18%, half that of the overall average of 37%.
    • In the 10-year study, buying MANH when it had an F rating led to returns of 11%, half that of the overall average of 23%.
    • In both studies, the probability of gain was less than 60%, making investing at such times a risky proposition.

This data suggests that ERS’s V1™ rating could have helped investors avoid weaker periods and capitalize on high-growth opportunities.

This table presents the investment recommendations made by major financial firms on Manhattan Associates (MANH) over the past year, along with the stock’s closing price at the time of the recommendation and the subsequent price change up to 1/29/2025.

Date Analyst Closing Price Rating Action Rating Price Action Target Price Change to 1/29/25
1/29/2025 Citigroup $222.68 Maintains Neutral Lowers $303 -> $244
1/27/2025 Citigroup $288.23 Maintains Neutral Lowers $306 -> $303 -22.7%
12/16/2024 Citigroup $300.88 Maintains Neutral Raises $287 -> $306 -25.9%
11/25/2024 Piper Sandler $290.74 Initiates Overweight Announces -> $326 -23.4%
10/23/2024 Raymond James $271.36 Maintains Outperform Raises $255 -> $305 -17.9%
10/22/2024 Baird $292.32 Maintains Outperform Raises $263 -> $304 -23.8%
10/11/2024 Truist $299.50 Maintains Buy Raises $275 -> $310 -25.6%
9/25/2024 Citigroup $284.13 Maintains Neutral Raises $257 -> $287 -21.6%
9/16/2024 Loop Capital $270.40 Maintains Buy Raises $265 -> $285 -17.6%
7/24/2024 DA Davidson $249.83 Maintains Buy Raises $260 -> $285 -10.8%
6/28/2024 Citigroup $246.68 Maintains Neutral Raises $220 -> $257 -9.7%
5/16/2024 DA Davidson $225.69 Maintains Buy Raises $240 -> $260 -1.3%
5/14/2024 Redbird Atlantic $216.64 Initiates Buy Announces -> $260 2.9%
4/25/2024 DA Davidson $208.30 Upgrades Buy Raises $220 -> $240 7.0%
4/24/2024 Rosenblatt $206.32 Maintains Neutral Maintains $225 -> $225 8.0%
4/15/2024 Rosenblatt $230.49 Maintains Neutral Maintains $225 -> $225 -3.3%
3/13/2024 Citigroup $251.67 Initiates Neutral Announces -> $260 -11.5%
1/31/2024 Rosenblatt $242.56 Maintains Neutral Raises $215 -> $225 -8.1%

The average return from the date of each analyst recommendation to 1/29/2025 is -12.1%.

Page 2 highlights the unique, extraordinarily accurate and valuable risk and performance ratings by Equity Risk Sciences for RIAs, fiduciaries and institutional investors.

Call Ray Mullaney for information on how Equity Risk Sciences can help your firm
grow faster and more safely with ERS’s advanced data science and artificial intelligence technology:
Ray@ERS.ai
(203) 254-0000           (401) 450-4040           (617) 684-3900