by Business Insider | November 18, 2013 4:01 pm
Wall Street is constantly putting out analyst reports and changing stock price targets, on top of every bank’s all-important quarterly estimates on company earnings.
But the problem is that not all estimates are created equal. Wall Street consensus is better on some stocks than it is on others, and in fact, for a bunch of stocks, its estimates are just consistently off.
Business Insider reached out to Estimize — a company that aggregates estimates off The Street, from a community fo 3,000 portfolio managers, independant researchers, traders, asset managers and more — to get a sense of which stocks are the hardest for Wall Street to nail.
Estimize touts that its consensus is 69.5% more accurate than Wall Street’s, and that on the following list of stocks, the difference is kind of striking.
So these are the stocks where Wall Street loses its mojo — you’ll recognize a few of them:
Now this isn’t to say that you should throw out your analyst reports and ignore all their advice. What it is to say, though, that you’ve got to do your own homework business, especially when the professionals are missing the market too.
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