This Analyst With 86% Accuracy Rate Sees Around 16% Upside In Alphabet - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

U.S. stocks closed lower on Friday, with the Dow Jones index falling more than 350 points during the session.

The S&P 500 fell 1.97%, while the Nasdaq dipped 3.65% last week, recording their biggest weekly losses since April. However, the Dow gained 0.72% during the week.

Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst’s opinion to trust.

Benzinga’s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.

Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga’s extensive database of analyst ratings is by analyst accuracy. Here’s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.

Analyst: John Todaro

• Analyst Firm: Needham
• Ratings Accuracy: 87%
• Latest Rating: Reiterated a Buy rating on Coinbase Global, Inc. COIN with a price target of $260 on July 19. This analyst sees around 1% increase in the stock.
• Recent News: Coinbase Global is expected to report its second quarter 2024 financial results on Thursday, Aug. 1, 2024, after the closing bell.

Analyst: Justin Post

• Analyst Firm: B of A Securities
• Ratings Accuracy: 86%
• Latest Rating: Maintained a Buy rating on Alphabet Inc. GOOGL and increased the price target from $200 to $206 on July 17. This analyst sees around 16% upside in the stock.
• Recent News: Alphabet’s Google revealed its upcoming Pixel 9 flagship smartphones before they can be leaked yet again.

Analyst: Alexander Paris

• Analyst Firm: Barrington Research
• Ratings Accuracy: 85%
• Latest Rating: Maintained an Outperform rating on Perdoceo Education Corporation PRDO and boosted the price target from $25 to $27 on July 16. This analyst sees around 15% upside in the stock.
• Recent News: Perdoceo Education will report second quarter 2024 financial results after the closing bell on Wednesday, July 31.

Analyst: Brian Mullan

• Analyst Firm: Piper Sandler
• Ratings Accuracy: 85%
• Latest Rating: Maintained a Neutral rating on Chipotle Mexican Grill, Inc. CMG and cut the price target from $61.4 to $60 on July 16. This analyst sees around 12% gain in the stock.
• Recent News: Chipotle is scheduled to host a conference call on Wednesday, July 24, to discuss second quarter financial results.

Analyst: Lauren Silberman

• Analyst Firm: Deutsche Bank
• Ratings Accuracy: 85%
• Latest Rating: Maintained a Buy rating on McDonald’s Corporation MCD and cut the  price target from $310 to $295 on July 16. This analyst sees around 15% upside in the stock.
• Recent News: On June 21, McDonald’s announced a new $5 meal deal to attract price-conscious customers amid rising fast-food prices.

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