The major stock indices experienced notable gains in 2023 as concerns about a potential recession waned and Artificial Intelligence (AI)technology pushed the stocks of top tech giants higher. Let’s useTipRanks’ Experts Centertool to identify the top five U.S. analysts of 2023 who delivered significant returns with their stock selections and outperformed their peers.
It’s worth noting that the ranking indicates analysts’ ability to generate returns based on their recommendations. TipRanks analyzes each rating put forth by Wall Street analysts, after which our algorithms assess the statistical importance of each rating, the average return, and the overall success rate of the analysts.
Top 5 U.S. Analysts for 2023
#1Brent Thill– Jefferies
Brent Thill topped the list. Thill had a success rate of 75% in 2023. His best rating was on Meta Platforms (NASDAQ:META), a technology and social media giant. His Buy call on META stock from January 9, 2023, to April 9, 2023, generated a solid return of 66.9%.
#2Stephen Kim– Evercore ISI
Stephen Kim was second on the list, with a success rate of 92.9%. Kim’s top recommendation was DR Horton (NYSE:DHI), a leading home construction company in the U.S. The analyst generated a profit of 46.9% through his Buy recommendation on DHI stock from October 10, 2023, until today.
#3Shaul Eyal– TD Cowen
Shaul Eyal ranked No. 3 on the list. Eyal’s success rate was 77.8% last year. His best rating was on Evolv Technologies (NASDAQ:EVLV), which provides AI-based security screening solutions. His Buy rating on EVLV stock between March 2, 2023, and June 2, 2023, generated a stellar return of 96%.
#4Matthew Hedberg– RBC Capital
Matthew Hedberg bagged the fourth spot. The analyst had a 67.4% overall success rate in 2023. Hedberg’s best recommendation was Gitlab (NASDAQ:GTLB), a company that offers a platform to develop and deliver software. The analysts’ Buy call on GTLB stock generated a stellar 77.6% return from May 4, 2023, to August 4, 2023.
#5John Todaro– Needham
At the fifth spot was John Todaro of Needham. The analyst had an overall success rate of 86.4% last year. His top recommendation was for Cipher Mining (NASDAQ:CIFR), a technology company focused on the development of Bitcoin mining data centers in the U.S. Through his Buy call on CIFR stock, Todaro generated a solid return of 45.4% from February 21, 2023, to May 21, 2023.
Ending Thoughts
Despite macro uncertainty, these top analysts generated significant returns from their stock selections. Thus, keeping track of top analysts’ recommendations could help retail investors outperform the broader market. Investors can leverage TipRanks’ platform, which assesses the recommendations ofTop Experts, to make informed investment decisions and optimize their investment returns.
