AnaChart is touted as a one-of-a-kind solution for vetting stock analysts with stunning accuracy. But does it really deliver? Read our AnaChart review for the full story.
AnaChart Review: What Is AnaChart?
AnaChart is a Fintech startup that analyzes the historical performance of thousands of stock analysts. Members can use this info to determine the credibility of these analysts’ market predictions.
By parsing each analyst’s track record separately, AnaChart ensures that the data displayed in terms of credibility and opinion weight is correct for every person.
If a certain analyst’s price targets are way off the mark, they lose credibility within the machine learning algorithm’s database. Therefore, their predictions would be less relevant to users.
There are over 400,000+ price targets and ratings for about 4,000+ NYSE and NASDAQ stocks collected by the platform. It also covers up to twenty years of an analyst’s activity records.
While AnaChart does an excellent job aggregating data, this is not a stock market crystal ball. Investing based on past performance does not guarantee outcomes.
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Currently, it’s quite hard to determine whether the stock research and price targets of a certain analyst are well-founded.
To do so, you must know their track record by committing to a ton of research.
Also, media that publish stock reviews and research don’t delve into track records. This means that, often, you won’t know an analyst’s previous hits or misses.
The good news is that AnaChart does the heavy lifting for you.
Its AI and ML algorithms locate analysts who have a track record of predicting the price targets of each specific stock. These are mostly filtered by the previous accuracy they’ve had with the same ticker or similar stocks.
All of this “radical transparency” is shown in the intuitive AnaChart dashboard displaying important data points.
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Price Targets History
Let’s say you want to quickly analyze TSLA stock.
Thanks to AnaChart, you can also see historical predictions in the form of a chart compared to past movements of TSLA.
That shows how likely the stocks these traders and analysts are talking about are to move in the directions they’re predicting.
Another great feature is that you can also display the historical graphs of all price predictions of all analysts for a certain stock.
You can then cherry-pick on the platform’s chart which one is the closest to the actual past movement.
This allows you to invest with confidence if you trust that these investors would again have success with the same stock.
Stock Research Publications
You can easily check past information regarding publications they’ve had and also if they mentioned any important piece of information in any of these publications.
This, of course, is linked, and with the help of this functionality, you can access all publications through links in the chart.
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You could invest in many companies with the help of AnaChart. As of 2022, the software accounts for the review of stock analysts and price targets for ten sectors, which are:
- Basic Materials
- Communication Services
- Consumer Cyclical
- Financial Services
- Consumer Defense
Stock Rating Distribution
The stock rating distribution is a pie chart. It reflects the data on how many analysts have determined that the ticker you’ve selected is worth buying, selling, or holding.
Similar information, combined with market sentiment, can be very useful when trading.
Almost every investor or trader has a favorite stock. On AnaChart’s platform, you can collect a lot of data about them. By opening the stock’s relevant page, you can see how many analysts have been and are currently covering price targets and movements for the ticker.
Moreover, you will also see the average potential upside or downside that is predicted by these investors.
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Stock Analysts Bios
Every single analyst on the platform has a license and a concise bio. You can use that to determine whether the information they publish is relevant to the stocks that interest you.
Moreover, you can see their performance ratings on separate tickers and the reviews of all the stocks they’ve made. AnaChart displays all the data regarding analysts available on the platform with full transparency.
Within the profile of a specific analyst, you can also see data regarding their positive or negative predictions. That helps you to get an overall idea of the analyst’s market sentiment and their ability to accurately gauge the value of a stock.
Brokerage Analyst Roster
Another great data point you can collect from the profile of the analyst you’ve selected is their place of employment or brokerage.
Moreover, you can check the analysis of a certain brokerage covering reviews and data on your favorite stock.
You can also see the number and names of analysts that work for this brokerage and inspect them separately.
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Publications containing relevant data from the analyst can be accessed through links and show the specific points in time on the ticker movement.
This is a great feature for doing your own research and reviewing what went right or wrong with an analyst’s investment thesis.
Compare Analysts Simultaneously
When analyzing the recommendations of multiple analysts at once, you can also compare their price targets for a certain ticker.
Simply choose a ticker, click on the chart, and select the analysts from whom you wish to see the predicted prices in the chart.
Is AnaChart Legit?
AnaChart is a legit analyst research service.
All the data within the analyst profiles and tickers within AnaChart are completely legit and 100% accurate.
Moreover, the analyst ratings are not determined by people, but by a machine learning algorithm that ensures all data is accurately presented.
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Pros and Cons of AnaChart
Like any other software, AnaChart cannot cover every single aspect of trading analysis.
It’s a niche approach that provides incredible transparency regarding expert ticker-picking recommendations and reviews.
- Buy, sell, and hold stock rating distribution
- Machine learning algorithms and AI determine experts’ credibility ratings and accuracy
- Real-time access to publications and price targets
- Full transparency regarding which analysts
- Affordable pricing and 20% discount
- Free version is limited
AnaChart has a simple subscription model and offers two plans: Free and Premium.
The Free AnaChart plan gives you access to over 100 NASDAQ stocks, including tables and charts with daily updates.
This plan is a great place to start if you’re on the fence about signing up.
That said, there are no links available on the chart tooltip, which is one of the best features. So you’re not really getting the full picture with this plan.
It’s still worth a try, but signing up for at least a month of premium could be a better test drive.
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AnaChart’s premium plan is where you can access all the platform’s features and functionalities.
As said above, it also unlocks links on the chart tooltip. This feature takes the service to another level and offers rich market intel for you to do your own due diligence.
Here’s what you get:
- Everything from the free version
- Interactive charts showing past and present price targets and ratings
- Premium plan links to relevant analyst articles
- Compare analysts or on a stand-alone basis
- Hundreds of thousands of links are available on charts tooltips to articles
Even better, there are no limitations to the amount of data you can view that’s collected by the platform.
I appreciate that the service doesn’t have a credit system that nickel-and-dimes subscribers, like some market research alternatives.
How Much Does AnaChart Cost?
AnaChart has three plans and pricing options range from $0 to $20 per month.
Subscription plans include:
- Free – $0
- Monthly – $20/mo
- Annual – $200 per year (~16.66/mo)
The annual plan cuts down the overall cost by 20%, which is a pretty hefty discount.
Is AnaChart Worth It?
AnaChart is an excellent platform, and it’s worth the price.
It tackles a new angle of stock research that many services on the market overlook.
I’ve seen market analysis tools offer a rating system in the form of user reviews. However, this only tells a part of the story. Plus, user ratings are easy to fudge.
AnaChart can collect 20 years of data, which helps you get the full story. And there’s no selective editing here.
All in all, this is an outstanding research tool, and I recommend that folks who prefer self-directed investing check it out.