How will Apple's earnings fare next quarter? Wall Street research analysts sell their best guesses to clients. But two-year-old Estimize features free estimates from a larger group of investors that are typically more accurate than the so-called Wall Street consensus.
Estimize crowdsources earnings and revenue estimates for more than 900 companies from a community of over 17,000 users.
About 20% of them are so-called buy-side analysts at mutual funds, hedge funds and pensions that are in the business of buying stocks for portfolios as opposed to selling research. The rest of the community is made up of independent analysts and traders, as well as other expert and novice investors. You too can submit estimates by simply signing up with the site.
Earnings estimates from analysts who work at big investment banks, like Goldman Sachs and Morgan Stanley, have often been viewed with skepticism because they do business with the companies that their research analysts cover.
According to Estimize founder Leigh Drogen, the estimates on his site are more representative of true market expectations and more accurate than traditional Wall Street estimates nearly two-thirds of the time. -- H.Y.