Q: You have said in previous answers that you view most analyst price targets with significant skepticism. Earlier this year TD started to include analyst price targets along with the analyst's TipRanks ranking out of 6,700 analysts. Per TipRanks, the ranking is based on the win-loss ratio of the analyst; the average return of each rating; and consistency of the analyst's performance over time.
For example, on Monday, Brent Bracelin of Piper Sandler, who happens to be ranked #1, gave SHOP a target price of $1144. Today, Mark Mahaney of RBC, rank 121, gave SHOP a target price of $1357.
What is your opinion of TipRanks? Would you consider analysts in the top 1, 5 or 10% worth paying attention to as part of a decision-making process?
For example, on Monday, Brent Bracelin of Piper Sandler, who happens to be ranked #1, gave SHOP a target price of $1144. Today, Mark Mahaney of RBC, rank 121, gave SHOP a target price of $1357.
What is your opinion of TipRanks? Would you consider analysts in the top 1, 5 or 10% worth paying attention to as part of a decision-making process?