Which research platform is best for investors TipRanks or MarketBeat? We compared the data and tools the sites offer. Our conclusion is that TipRanks offers significantly better value.
When comparing the two research platforms we considered the following criteria:
- Which platform provides more tools
- Which platform offers more comprehensive data
- Which platform has more accurate data
- Which platform is trusted by reputable financial institutions
Data and tools offered
Both TipRanks and MarketBeat offer a selection of research tools. These include various screeners that investors can use to search for stocks and analysis tools for researching individual stocks. We started our research by putting their stock analysis tools head-to-head.
TipRanks and MarketBeat both offer a large amount of data. Both platforms have the same objective, to enable any investor conducting research to make confident decisions based on the data they provide. So, who does this best?
There is an overlap of data offered by both platforms. For example, if you are researching Apple, both TipRanks and MarketBeat show you ratings, charts, dividends, insider and hedge fund transactions, and more.
However, there are a few marked differences.
When it comes to datasets such as Analyst Ratings, the main difference is that MarketBeat presents ratings from research firms, while TipRanks presents both the research firm and the actual analyst behind the rating, including their performance and track record, both overall and for each stock they cover. Other datasets we found exclusively on TipRanks include alternative datasets such as website traffic, risk analysis, financial blogger recommendations, and news sentiment.
It seems that while both platforms offer information, TipRanks has taken a more tech-centric approach to leveling the playing field for investors, while MarketBeat is more focused on aggregated content.
Tools used by institutional investors can be burdensome for retail investors. TipRanks does a good job simplifying the same data they use and presenting it visually.
Both platforms offer a stock score, the TipRanks score is more transparent and has a better historical performance. TipRanks also ranks all experts based on their track records, including financial bloggers, hedge fund managers, corporate insiders, individual investors, and of course analysts, so you can follow the best minds in the business.
Follow top analysts on TipRanks
TipRanks vs. MarketBeat
How comprehensive and accurate is the data?
We wanted to see whether the two platforms present the same information for the same stock. When it comes to analyst ratings, we found that for most stocks, TipRanks offers more analyst coverage and that the ratings are more up to date. Interestingly, we also found that they are more accurate.
For example, on November 5, Mark Palmer from BTIG reiterated a Buy rating on Square, with a price target of $320.00. You can see this on TipRanks.
However, MarketBeat shows a different price target of $319.
TipRanks has stated that they often momentarily tweak data so that companies who scrape from them will display false information.
Is it just analysts where TipRanks does better? We also looked at insider transactions. While MarketBeat shows which insiders have bought and sold stocks, TipRanks differentiates between transactions where insiders are exercising share options, and transactions where they are buying or selling because of how they believe the stock is going to act. Again, TipRanks proves more valuable for investors.
Which platform do the financial institutions trust?
Often, the best way to evaluate a service is to see if there are industry authorities adopting it. According to the TipRanks website, their data is trusted and used by several tier-one banks and international companies such as Nasdaq, Bloomberg, TD Bank, Bank Santander, eTrade, and “over 50 leading financial institutions”.
MarketBeat does not seem to have any institutional clients, at least, none appear on the website.
What users are saying
At the end of the day, what users say gives the best indication of which service is best. Our favorite tool for reviewing this is Trustpilot.
Market Beat only has five reviews. It has an “average” score of 2.8. The most common complaint is spam.
TipRanks has 92 reviews and a” great” score of 4.
TipRanks and MarketBeat both aim to provide investors with all the tools they need for their stock research in one place. While there are some similarities in the data and tools they provide, across the board, we found that TipRanks offers better quality data, more accurate information, and a better customer experience.