TipRanks Review: They are ranked as one of the top stock apps geared towards retail traders, TipRanks is taking the guesswork out of online stock surfing. Currently, we see this as a leading pioneer in this space, with very few competitors who can even come close to matching what they offer. Lets get into it!
No longer will you be swept away in the waves of endless information. With a subscription to TipRanks, you can not only catch more opportunities but ride the wave all the way to the shores of success.
But, is TipRanks all their cracked up to be? Grab your board; this review aims to answer the million-dollar question.
Table of Contents
TipRanks Review Introduction
Who wouldn’t want to know what 15,000 analysts are saying about your stocks? I sure know I do. But how do you know who to trust? Who’s to say that so-called “analyst” isn’t some kid sitting in his mother’s basement with no more stock-picking knowledge than your broke roommate? We shouldn’t leave major decisions up to chance. Or worse yet, rely on the subjective opinions of others. Luckily, that’s where TipRanks comes in. If you’re a investor or trader who loves fundamental analysis “made easy” this platform is for you.
In a nutshell, TipRanks evaluates public stock recommendations made by financial analysts and financial bloggers, then ranks those experts based on their accuracy and performance. Not only that, but you’re able to view what those sneaky insiders are up to, as well as the evil “hedge funds” (evil according to fintwit)
With a subscription to TipRanks, you get access to daily Wall Street analyst ratings price targets. All consolidated and displayed in one easy to read place. Whether it be a buy, hold or sell suggestion, portfolio analysis or investment ideas, it’s all at your fingertips in a simple click of the mouse!
What the Top Wall Street Analysts Are Recommending
Want to know what Wall Street top analysts are recommending? Is it CBD oil stocks or RV Stocks?? TipRanks daily analyst recommendations are among the many tools available to TipRanks users and a great place to check for new ideas if you’re drawing a blank.
Every day TipRanks analyzes the buy and sell recommendations of more than 4,000 analysts from the biggest banks tracking their performance and ranking them using unbiased, objective algorithms. There is no other platform available to retail traders that can currently compete with their algorithms and the way the information is organized. Period.
Our TipRanks review looks at this service to see if it’s a good one for you. It’s good to rely on a credible service like this versus the typical penny stock promoters who are quite predatory in their actions. You want a company you can trust. TipRanks earns your trust the more you use it and understand who to follow, and what features will benefit your trading or investing activities.
Ranking Analysts
Each entry offers a snapshot into the what and why of the analysts’ pick and their performance star ranking. Furthermore, it gives you information on the specific analyst, making the recommendation.
On the left, you see what the analyst is telling investors with their specific 12-month price target and the date of the most recent action. On the right, you can read their most recent comment supporting their recommendation.
You can look at any analyst and see if they’ve returned equity to you, How has he or she performed? Are they good or bad at investing? That is what should matter, not whether they speak brilliantly on TV or happen to have a large social media following.
The bottom line for traders and investors who like to follow others is… performance. That is all that matters to most. I liken it to a batting average for analysts. And a review of the top performers on TipRanks goes a long way.
How Does TipRanks Rank Analysts?
TipRanks have taken all average batting data, crunched the numbers and created an algorithm to come out with a ranking system. They can aggregate and analyze any piece of advice published online. Similarly, they can also do it for much more complicated and unstructured texts like financial blogs. Hence this TipRanks review.
Using the Daily Recommendation Tool
Let’s see how you can use the daily analyst recommendation tool. You begin by filtering through 1000 of possibilities to only the best picks that meet your investment criteria.
I suggest adjusting your selections based on analyst performance. It’s as simple as selecting only the 4, and 5 starred ranked experts to filter out under-performing analysts.
With this, you’ll see what stocks the wall street pros that have consistently generated positive returns are recommending. Cool.
Second, select the type of stocks you are looking for, the specific sector and your benchmarks for performance. Whether it’s large or small-cap stocks, this tool will allow you to filter them out so you aren’t wasting your time.
Additionally, TipRanks enables you to screen from any or all eight primary industry sectors. Next, set filters to measure against standard benchmarks, including the S&P 500 or their primary industry sector index. It’s always nice to look at an overlay and get a visual representation on how the stocks are doing against the overall market.
Moving on, you also need to define what type of investor you are? Are you short-term, long-term, or perhaps looking to hold a year or two? With Tipranks, you can look at how the analyst has performed over four different investment time spans to find better ideas that closely match your own. The result is a concise list of stock picks for your investment consideration.
More importantly, you can cut through the clutter of financial advice from 100’s of analysts’ recommendations to see a daily list narrowed down to show only analyst advice worth following.
Data-Driven Decision Making to Wall Street
Given the fact that analysts tend to clump together when making decisions, how do you find the buying or selling signal in the noise? If you look at the top 100-200 analysts, 10-15% turnover.
You need to benchmark the analyst to their own sectors to see if they are good or bad; then, you will get consistency. At the end of the day, what TipRanks does is bring data-driven decision making from wall street to main street.
Analysts should be rated based on performance, and that’s what investors should care about. You can’t regulate quality or integrity, but what you can do is give the data to the investor to know if the analyst at Morgan Stanley is good or bad at what they do.
It doesn’t matter how many buy or sell ratings they issue; you can see how they performed overall. Don’t take into account their earnings estimate. Look at it from the perspective of the individual investor.
TipRanks would measure what would happen if I listened to that analyst and bought that stock. They don’t look at the standard deviation and the differences between his earning estimates and what the company actually reported. Hence our TipRanks review looks at what matters, results!
Do We Really Need to Listen to Analysts?
Should you use them for your buy or sell recommendations? The reality is, many do look to analysts to drive their decisions. It can’t hurt to get the opinions of experts and weigh their ratings against your own game plan.
I believe TipRanks has realized this, and is a trendsetter at providing this type of service to us. Their goal is not to convince people to do one thing or another; that would be a futile effort. Their goal is to have an objective data set to drive their decisions, and to decide to listen to the analyst or not. The power is in your hands.
What Else Can TipRanks Offer You?
At this point, per our TipRanks review, it’s safe to say, they offer a lot. Some of the country’s largest banks and trading platforms have hired TipRanks because they want this data to factor into their algorithm. Plus, they also measure the performance of hedge funds based on what they are reporting to the SCC. So big money is using TipRanks, so, why shouldn’t you?
Features
The analyst’s insights are by far; in my opinion, the most valuable piece of information tip ranks provides to its users. Now I don’t make my decisions solely on what analysts have to say. That would be silly.
But I pay attention to an analysts upgrades or downgrades on a stock to see the overall sentiment, especially if I’m thinking of buying a nice chunk of shares.
For example, let’s say Electronic Arts (EA) had a 10% dip because of a delay in its new battlefield game. And, slightly lower guidance the next quarter because of this delay.
Personally, I thought this was a massive overreaction, as the developers are still going to release the game, delay or not. They still will have fantastic profits for the quarter, and the long-term picture, in my opinion, is still intact.
So, I hopped onto tip ranks to see what analysts had to say about EA. I was almost sure there would be several analysts with an opinion, either an upgrade, downgrade or reiteration of their stance on the company.
Sure enough, what I see are two analysts who say they are still bullish on the stock. Sure enough, two analysts with a 5-star rating had a buy rating.
Now, am I going to buy EA solely based on the analysts? No, but it does help my thesis and confirm my stance on the company. I’m still going to pull up a chart and look for support and resistance and then make the trade if it’s in my buy zone.
A Word of Caution
It’s important to emphasize that TipRanks is a technology company and not a financial company. They give you data, and it is up to you to use that data well.
Investing in the stock market is risky and complicated – anyone who tells you differently is lying. No one is 100% sure they can make you money, and TipRanks would never pretend to – it’s a risky business. No one is going to stick their neck out and say otherwise.
TipRanks Stock Price and Symbol: Are They Publicly Traded?
Investors cannot purchase shares of TipRanks because the company is privately held.
TipRanks Review Final Thoughts
Even if you think you may have another resource out there that is the best resource for stocks, I encourage you to go sign up and give it a try because it’s almost guaranteed you’ll find something on this website that will help with your investments.
There is a lot of value in this platform, and it doesn’t have to cost you an arm and a leg. You can sign up for free to gain basic access to the platform and go from there. Hopefully this TipRanks review helped and you can catch that wave to success! Try it today and save 20% off through Halloween!
