Analyst Estimates Widget and Chart Area

TrendSpider offers the Analyst Estimate widget to help traders in collecting the ratings and directional recommendations produced by the Analysts for determining the performance of a stock during a given time period.

Analysts are individuals, investment banks, or financial services companies who probe into the affairs of a company by analyzing the financial statements, interacting with the management, and researching the competitors to produce the ratings and recommendations on whether the trader should buy, or sell, or hold the stocks.

Analyst ratings are important to traders because they tend to move the market on the day they’re issued. While research suggests that analysts have a mixed track record, reinforcements to existing Buy and Sell recommendations tend to be more accurate. Traders can also use analyst ratings as a contrarian indicator or to fade the initial jump in price.

TrendSpider retrieves analyst ratings from Benzinga (for U.S Stocks only), which collects ratings and recommendations from all major sell-side analysts ⚡

In this documentation, we will explore how to:

  • Add Analyst Estimates Widget
  • Use Analyst Estimates Chart
  • Use Summary Table
  • Use Reports List
  • Use Analyst Estimates with Other Parts of TrendSpider

Let’s get started 🚀

Add Analyst Widget

Step 1: Click on the Sidebar button from the top right corner of the interface.

Click on the Sidebar Button

Step 2: Select Add or Remove Widgets from the dropdown list.

Select Add or Remove Widgets

Step 3: Click on the Add New Widget button at the bottom of the side panel.

Click on the Add New Widget button

Step 4: Select Analyst Estimates from the list.

Select Analyst Estimates from the list

Step 5: Click on Done and the widget will be added to the sidebar.

Click on Done

Use Analyst Estimates Chart

The chart area in the Analyst Widget provides a visualization of analyst reports, which makes it easy to track the changes in the market sentiment over time.

Analyst Estimates Chart

Each row in the chart represents a single analyst’s reports over time with the most recent reports on the left.

 single analyst’s reports

The rectangles in each row are shaded with different colors to represent the analyst’s sentiment at various points in time.

COLOR INTERPRETATION
Dark Green Represents a new report either reiterating or initiating coverage with a BUY rating
Light Green Represents a current BUY rating that has not changed
Dark Gray Represents a new report either reiterating or initiating coverage with a HOLD rating
Light Gray Represents a current HOLD rating that has not changed
Dark Red Represents a new report either reiterating or initiating coverage with a SELL rating
Light Red Represents a current SELL rating that has not changed

Let’s understand how to interpret “overall analyst estimates” & “estimates generated by a specific analyst” using the examples below.

The illustration below reflects the overall Analyst Estimates on TSLA where:

1. The analysts have generated a Sell rating
2. The analysts have generated a Hold rating
3. The analysts have generated a Buy rating

overall Analyst Estimates
The illustration below reflects the report generated by a specific analyst i.e. Morgan Stanley on CAT where:

1. The analysts confirmed a Buy rating nine months ago
2. A week later, the analysts released a report changing their ranking to Hold
3. A week later, the analysts reaffirmed their Hold rating
4. Analysts didn’t release a new report for six weeks and then reaffirmed their Hold rating again
5. There were a few Hold confirmations over the next 16 weeks before a Sell rating was issued eight weeks ago

report generated by a specific analyst

TrendSpider automatically categorizes different ratings indicated by analysts into Buy, Sell or Hold. The list below is exhaustive:

Analysts Indications TrendSpider Interpretation
Sell, Strong Sell, Underperform, Moderate Sell, Weak Hold, Underweight, Reduce, Negative, Sector Underperform, Below Average, Market Underperform, Trim, Underperformer, Conviction Sell, Cautious SELL
Hold, Neutral, Market Perform, Equal Weight, Sector Perform, Sector Weight, In-Line, Perform, Peer Perform, Fair Value, Suspends, Hold Neutral, Average, Mixed, Market Weight Average. HOLD
Outperform, Moderate Buy, Accumulate, Overweight, Add, Market Outperform, Positive, Long-term Buy, Buy, Strong Buy, Above Average, Sector Outperform, Top Pick, Outperformer, Conviction Buy. BUY

You can also browse Analyst Estimates on your charts to see how the price action reacts or does not react to Analysts' reports emerging by clicking on the adjoining (⋮) vertical ellipsis of “Other Data” on the toolbar and selecting Analyst Estimates from the dropdown.

Please ensure that the “Other Data” is toggled on.

Analyst Estimates

Use Summary Table

The summary table provides more detailed insights into analyst ratings over time.

Summary Table

For example, the table below shows 8 Buy ratings over the past 13 weeks. You also can see that there were no reports for the last 2 weeks, and the most recent report (released within the last 4 weeks) ranked this asset as a Hold.

Summary Table

Use Reports List

The reports list shows a list of analyst reports with columns for date, the analyst name, and rating that are chronologically ordered.

 Reports List

Let’s understand how to interpret “Reports List” using an example below where

  • = means the analyst reiterated their previous rating.
  • Triangle Up arrow (in green) means that the analyst upgraded the asset from their previous rating.
  • Triangle Down arrow (in red) means that the analyst downgraded the asset from their previous rating.

Reports List

All reports in the above example were released more than 13 weeks ago where:

  • On 20th Mar 2020, Wells Fargo reiterated (`=` character) on their rating of “Hold” for this asset.
  • On 13th Mar 2020, Northland upgraded (triangle up) their rating of the asset to “Buy”, meaning that they used to hold a “Hold” rating earlier.
  • On 20th Feb 2020, Wells Fargo downgraded (triangle down) their rating of the asset to “Hold”, meaning that they used to hold a “Buy” rating earlier.

You can also mark a specific or multiple analysts as your favorite from the list by clicking on the adjoining star ★ icon. If an analyst is marked as a favorite, then you will view the reports produced by such an analyst on the topmost layer of the Analyst Estimates Chart.

mark a specific or multiple analyst as your favorite

Use Analyst Estimates with Other Parts of TrendSpider

You can use Analyst Estimates with other parts of TrendSpider as outlined below.

Scripts

You can use Analyst Estimates data in your scripts, which means that you can merge Analyst-related criteria with technical criteria. For more information, please refer to the documentation on Scripts.

Market Scanner

You can use Analyst Estimates reports in Market Scanner by defining a set of technical criteria. For more information, please refer to the documentation on Market Scanner

Smart Checklist

You can add the Analyst Estimates report in the Smart checklist. For more information, please refer to the documentation on Smart Checklist.

Jun 29, 2022

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