The U.S. stock market concluded August on a positive note, with the S&P 500 gaining 2.3% for its fourth consecutive winning month. The Dow Jones Industrial Average rose 1.8%, while the Nasdaq Composite recorded a 0.7% gain. While Wall Street analysts provide insights on a daily basis, their track records can vary significantly, making it difficult for investors to discern which opinions to trust. To assist investors, Benzinga’s Analyst Ratings API offers a collection of high-quality stock ratings curated through partnerships with major sell-side banks. These ratings are updated daily, three hours before the U.S. equity market opens. Data specialists at Toggle.ai have confirmed that the analyst insights provided through Benzinga Pro and Benzinga’s regular publications can serve as effective trading indicators for outperforming the stock market.
Top Analyst Picks:
For investors seeking guidance, Benzinga’s Analyst Stock Ratings page offers access to the latest analyst ratings, sortable by analyst accuracy. Here’s a look at the most recent stock picks from five of the most accurate Wall Street analysts:
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Leo Mariani (Roth MKM, 88% Accuracy):
Mariani initiated coverage on Antero Resources Corporation (AR) with a Buy rating and a price target of $32 on August 27th. This represents a potential 19% upside for the stock. Antero Resources posted a wider-than-expected quarterly loss on July 31st.*
Richard Davis (Canaccord Genuity, 88% Accuracy):
Davis maintained a Hold rating on Okta, Inc. (OKTA) but lowered the price target from $95 to $90 on August 29th. This suggests an approximate 14% upside potential for the stock. Okta reported quarterly earnings of 72 cents per share on August 28th, exceeding the analyst consensus estimate of 61 cents per share.*
Zachary Fadem (Wells Fargo, 87% Accuracy):
Fadem maintained an Equal-Weight rating on Best Buy Co., Inc. (BBY) and raised the price target from $80 to $95 on August 30th. This implies a potential 5% downside for the stock. Best Buy reported better-than-expected second-quarter financial results on August 29th and raised its FY25 earnings guidance.*
William Stein (Truist Securities, 87% Accuracy):
Stein maintained a Buy rating on NVIDIA Corporation (NVDA) and increased the price target from $145 to $148 on August 29th. This indicates a potential gain of over 24% for the stock. On August 28th, Nvidia announced better-than-expected earnings and sales results for its second quarter.*
