U.S. stocks settled mixed on Friday, with the S&P 500 closing lower during the session after data showed a dip in consumer confidence alongside mounting inflation concerns. However, broad market index recorded gains last week.
The Dow jumped 1.74%, while the S&P 500 and Nasdaq rose 0.94% and 0.81%, respectively during the 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: Jay McCanless
Analyst Firm: Wedbush
Ratings Accuracy: 88%
Latest Rating: Maintained an Outperform rating on Toll Brothers, Inc. ( TOL ) and cut the price target from $175 to $165 on Aug. 12.
Recent News: The company will announce its third quarter results after the market close on Tuesday, Aug. 19.
Analyst: John Todaro
Analyst Firm: Needham
Ratings Accuracy: 86%
Latest Rating: Maintained a Buy rating on eToro Group Ltd. ( ETOR ) and cut the price target from $80 to $76 on Aug. 13.
Recent News: On Aug. 12, eToro Group ( ETOR ) reported better-than-expected second-quarter adjusted EPS results.
Analyst: Doug Anmuth
Analyst Firm: JP Morgan
Ratings Accuracy: 86%
Latest Rating: Maintained a Neutral rating on ZipRecruiter, Inc ( ZIP ). and cut the price target from $7 to $5 on Aug. 12.
Recent News: On Aug. 11, ZipRecruiter ( ZIP ) reported better-than-expected second-quarter financial results and issued third-quarter sales guidance above estimates.
Analyst: Ruben Roy
Analyst Firm: Stifel
Ratings Accuracy: 86%
Latest Rating: Maintained a Buy rating on Coherent Corp. ( COHR ) and raised the price target from $100 to $118 on Aug. 14.
Recent News: On Aug. 13, Coherent announced the sale of its aerospace and defense business for $400 million and released its fourth-quarter results.
Analyst: Peter Arment
Analyst Firm: Baird
Ratings Accuracy: 86%
Latest Rating: Maintained an Outperform rating on Mercury Systems, Inc ( MRCY ). and increased the price target from $58 to $70 on Aug. 12.
Recent News: On Aug. 11, Mercury Systems ( MRCY ) reported better-than-expected fourth-quarter financial results.
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