U.S. stocks closed lower on Friday after Republicans withdrew from debt ceiling negotiations. However, all three major indices recorded gains last week.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst's opinion to trust.
Benzinga's Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga's extensive database of analyst ratings is by analyst accuracy. Here's a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.
Analyst: Zachary Fadem
- Analyst Firm: Wells Fargo
- Ratings Accuracy: 87%
- Latest Rating: Maintained an Overweight rating on The Home Depot, Inc. HD and cut the price target from $350 to $325 on May 17, 2023. Fadem sees around 12% upside in the company’s stock.
- Recent News: Home Depot reported mixed first-quarter financial results.
Analyst: William Power
- Analyst Firm: Baird
- Ratings Accuracy: 86%
- Latest Rating: Maintained an Outperform rating on Dynatrace, Inc. DT and increased the price target from $49 to $53 on May 18, 2023. This analyst sees around 8% upside in the stock.
- Recent News: Dynatrace reported better-than-expected fourth-quarter EPS and sales results and issued first-quarter and FY24 revenue guidance above estimates.
Analyst: Colin Sebastian
- Analyst Firm: Baird
- Ratings Accuracy: 83%
- Latest Rating: Maintained an Outperform rating on Alibaba Group Holding Limited BABA and lowered the price target from $120 to $115 on May 19, 2023. This analyst expects around 37% gain in the company’s stock.
- Recent News: Alibaba reported fourth-quarter FY22 revenue growth of 2% year-on-year to $30.32 billion. Non-GAAP earnings per ADS of $1.56 beat the consensus of $1.35.
Analyst: Jay McCanless
- Analyst Firm: Wedbush
- Ratings Accuracy: 83%
- Latest Rating: Reiterated a Neutral rating on Zillow Group, Inc. ZG with a price target of $42 on May 19, 2023. McCanless sees the stock dropping around 6%.
- Recent News: Zillow Group reported a 90% decline in revenue year-over-year for the first quarter of 2023 amid the still tumultuous housing market.
Analyst: Jake Bartlett
- Analyst Firm: Truist Securities
- Ratings Accuracy: 83%
- Latest Rating: Maintained a Buy rating on Jack in the Box Inc. JACK and raised the price target from $98 to $111 on May 18, 2023. This analyst sees around 20% growth in the stock.
- Recent News: Jack In The Box Inc reported second-quarter FY23 sales growth of 22.8% year-on-year to $395.7 million, beating the consensus of $385.39 million.
Read More: Alphabet, VeriSign And 2 Other Stocks Insiders Are Selling
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