TipRanks is a financial analysis and research platform that allows users to track the performance and accuracy of financial analysts, hedge fund managers, and bloggers. With access to a database of over 10 million data points, TipRanks provides users with actionable insights and investment ideas.
It’s a fantastic thing that there is myriad investment information online. However, with so many analysts online, how can you tell apart the one offering credible advice? How can you separate the chaff from the grain? How can you keep track of that information?
It’s not that simple. But with the help of tools like TipRanks, accessing financial advice has been less rocky.
What is TipRanks?
TipRanks, among the Fintech100 in 2016, is a comprehensive online platform that assists investors in stock trading by rating seasoned financial analysts’ recommendations. TipRanks uses data-driven algorithms to collect digitally published financial recommendations.
TipRanks then systematically ranks the analysts’ recommendations by performance. In simple terms, the platform tells you which analysts’ financial predictions come true.
Is the platform worth the hullaballoo? Does the tool offer value for money? Please stick on as we take an in-depth review of TipRanks.
NOTE: We currently recommend Motley Fool over Tip Ranks. Learn More >
TipRanks has three membership plans. These are basic, premium, and ultimate. The basic plan is free and only offers limited access to most of the platform’s resources. What then can you do with basic membership?
Not much. However, you can get daily investment insights, view analyst ratings, and price targets for an individual stock. On the flip side, you miss out on investment ideas, email alerts, exporting data, and much more.
The premium plan, priced at $29.95 per month, is the flagship product for TipRanks. It’s also the most popular. It offers advanced access to most of TipRanks’ investment resources. You get to see trending stocks, access top analysts by sector, and follow up to five experts.
Some of the drawbacks are that email alerts are limited and that you only export data in PDF format only.
The Ultimate membership, priced at $49.95 per month, offers users unlimited access to TipRanks’ investment resources. It’s more apt for advanced and institutional investors interested in sophisticated functionalities, such as managing multiple portfolios and accessing advanced investment tools. It also lets you follow stocks with considerable insider trading.
Are memberships flexible? Yes. You can switch plans anytime within the year. Again, TipRanks offers a money-back guarantee within 30 days. Are you worried about the mode of payment? Don’t be. TipRanks accepts online payments from popular companies, such as PayPal, American Express, VISA, and MasterCard.
Is payment secure? With the meteoric rise of cybercrime, its prudent online payment is safe and secure. TipRanks uses high-level encryption to facilitate online payment. The company also ensures that its online payment system in strict compliance with PCI DSS.
TipRanks’ top features
TipRanks’ website is feature-laden to ensure investors tap as much investment information as possible. Let’s have a rundown of some of the notable features.
1. Stock screener
Thanks to TipRanks’ Stock Screener, you can search and filter stocks grounded on insider signals, financial indicators, and analysts’ sentiments. It’s different from other platforms because it’s detailed and is not restricted to technical aspects only.
The TipRanks’ screener offers a personalized experience and user-friendly interface to heighten users’ experience.
2. Top stocks
If you are looking for the best-performing stocks to buy, head straight to this section. Through Smart Score rating, TipRanks provides concrete finance data analysis to allow investors to find feasible stocks in the market. The Smart Score utilizes Big Data to generate data-driven inference on the optimal stocks to buy.
Using the Analysts’ Top Stocks feature, you get top recommended stocks by some of the best-ranking analysts. As if this is not enough, analyses on the recommended action are broken down into various sectors. The daily listing can be lengthy. However, you can use the filter option to narrow down to the stocks of interest.
The Trending Stocks functionality assists you to view stocks recommended by multiple analysts in the last few days. Additional information such as hold, moderate buy, and strong buy, helps you take the appropriate action in the stock market.
3. Stock comparison
Instead of opening multiple pages to comb data of various stock performances, TipRanks’ website allows you to compare up to seven stocks on one page.
You get to compare stocks’ metrics, such as dividends yield, market capitalization, stock price, and yearly gain or losses. To enhance the understandability of the data, TipRanks utilizes graphs and charts to summarize data.
4. Top 25 analysts
TipRanks selects the top 25 experts from over 50,000 financial analysts in various sectors. After a meticulous process of tracking and measuring performance, TipRanks ranks the top 25 analysts from Wall Street, financial bloggers, fund managers, and corporate insiders.
You can also follow the analysts of your choice to make sure you do not miss any of their stock recommendations. The beauty of this feature is to inform and alert you on the analysts’ recommendations of the sector/stock you intend to invest in.
5. Smart portfolio
Depending on your membership plan, TipRanks allows you to create a portfolio of stocks you plan to trade. This feature allows you to track progress as well as notify you when there are price changes. To add stocks in your portfolio, you can either do it manually or upload it from your watch list.
What’s the information on the portfolio? You will get an expert analysis of each stock in your portfolio. This functionality also allows you to compare your portfolio’s performance against the S&P 500 stock market index. You also get to receive headline news that affects stocks in your portfolio.
6. Insider trading
This cool feature allows you to get information on the trading behavior of corporate executives. It gives you information on the date of trading and the number of stocks involved.
TipRanks also informs you whether insider trading is from the owners, members of C-suite, or directors. Again, you can filter to view stocks that were bought by multiple corporate insiders.
To ensure you make an informed decision, TipRanks advises whether insider trading is significant enough to affect the market. You can access this information daily.
Is TipRanks user-friendly?
TipRanks amplified use of graphics on its site makes it easy on the eye. The platform use of Pie charts and graphs to summarize data simplifies data analysis and comparison.
You can argue that duplication of menu items is confusing, but this makes the site easily navigable for some users. The website outlook is not the best, but its information-laden nature helps you to forget about the looks for a moment.
Is TipRanks worth your money?
TipRanks is a fit for all investors ranging from entry-level investors to advanced investors. It is also suitable for short-term, medium-term, and long-term investors. Despite the type of investor, the tool comes in handy in relaying information on insider trading and analysts’ recommendations.
To ascertain its reliability, a quick review of online comments reveals that TipRanks is one of the most relied research tools out there. Many online users cite how the tool simplifies numerous and complex financial information into digestible data appropriate even for an average investor.
Given the amount of information, the tool equips you with, parting with $29.95 or $49.95 shouldn’t feel expensive. Compared to how expensive tools like Bloomberg are, TipRanks is a budget-friendly tool, yet it packs quite a punch.
However, a piece of advice, start with the basic membership as you learn your way around the website. Upgrade to premium or ultimate once you are ready to take off.
What are the drawbacks of TipRanks?
Like any other system, TipRanks has its flaws. The paid membership plans do not allow monthly payments. Yes, the rates are broken down monthly, but the only payment option is to make a one-off annual payment. This arrangement can be out of reach for investors with budget limitations.
Another disadvantage with the tool is that stock prices are not aptly updated during pre and post-trading sessions. The consequences? Investors can add sub-optimal stocks in their portfolio by relying on prices that are not up to date.
The tool also includes historical data with recommendations from non-performing analysts. Such data can be misleading to newbie investors without much experience with the platform.
Other cons include:
- Scanty information on technical indicators
- Limited technical analysis tools
- Some delays in processing refunds for the money-back guarantee program
TipRanks’ aim is to level up the investment playing ground. The platform makes vital financial information accessible to all investors and at affordable rates.
In the eyes of TipRanks, all financial analysts are not equal hence the need to rank. To this end, TipRanks offers a unique platform of ranking analysts’ recommendations to facilitate investors to make informed decisions. Investors can now bid bye to following analysts’ recommendations blindly.
Despite its drawbacks, there are few tools out there that can match the robustness of TipRanks. If you are looking for a solid investment research tool to help you weed out lousy performing analysts from super performers, TipRanks is the answer for you.
This multi-faceted tool has a good grasp of the stock market to help you make feasible decisions steered by top financial analysts. As you build your investment armory, TipRanks shouldn’t be far from you.
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