U.S. stocks closed slightly higher on Friday but recorded losses last week. The S&P fell 1.3% to record its first negative week in three, while the Dow lost around 0.8% 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 RH RH and boosted the price target from $300 to $375 on Sept. 8, 2023. This analyst sees more than 20% upside in the stock.
- Recent News: RH reported a second-quarter FY23 sales decline of 19.3% year-on-year to $800.48 million, beating the analyst consensus estimate of $784.90 million.
Analyst: William Power
- Analyst Firm: Baird
- Ratings Accuracy: 86%
- Latest Rating: Maintained a Neutral rating on DocuSign, Inc. DOCU and cut the price target from $70 to $58 on Sept. 8, 2023. This analyst sees around 16% upside in the stock.
- Recent News: DocuSign reported a second-quarter earnings beat and issued strong guidance.
Analyst: Eric Wold
- Analyst Firm: B. Riley Securities
- Ratings Accuracy: 85%
- Latest Rating: Maintained a Buy rating Sportsman's Warehouse Holdings, Inc. SPWH and cut the price target from $12 to $7 on Sept. 7, 2023. This analyst sees around 109% upside in the stock.
- Recent News: Sportsman's Warehouse reported worse-than-expected second-quarter earnings.
Analyst: Scott Devitt
- Analyst Firm: Wedbush
- Ratings Accuracy: 83%
- Latest Rating: Reiterated an Outperform rating on Sea Limited SE with a price target of $48 on Sept. 6, 2023. This analyst sees around 25% upside in the stock.
- Recent News: Sea reported second-quarter FY23 revenue growth of 5.2% year-on-year to $3.096 billion, missing the consensus of $3.420 billion. Adjusted EPS of $0.54 missed the consensus of $0.69.
Analyst: Rob Owens
- Analyst Firm: Piper Sandler
- Ratings Accuracy: 83%
- Latest Rating: Maintained an Overweight rating on GitLab Inc. GTLB and increased the price target from $52 to $65 on Sept. 6, 2023. This analyst sees around 24% upside in the stock.
- Recent News: GitLab reported quarterly earnings of one cent per share which beat the analyst consensus estimate of losses of three cents. Revenues of $139.58 million beat the analyst consensus estimate of $129.67 million, growing 38.14% year over year.
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