You need to use stock analysis tools if you're an individual investor who wants to make the most of your stock portfolio. These tools allow you to quickly examine all essential aspects of a company, such as financials, news, opinions, technical factors, fundamentals, and more, in order to make informed investment decisions.
In this article, we will discuss 5 of the best stock analysis tools available to individual investors.
It is important to mention that these tools are not numbered in order of importance, but rather in the order we recommend for you to use them.
Moreover, we do not earn any compensation for the inclusion of these tools, and the recommendations are based on our experience as well as our colleagues.
1. TradingView (best for screening and technical charts)
The first stock analysis you should check out is TradingView. The best thing about it is the inclusion of a comprehensive screener as well as charting for free by navigating the company's website.
You can see how quickly it is to navigate the screener, and you can customize it to include hundreds of different technical and fundamental metrics available.
In addition, the screener provides coverage for almost all of the most important global stock exchanges, so you can find valuable investment opportunities no matter where you are, or you are looking to invest.
Lastly, if you are a fan of technical analysis, this is one of the best tools you can use. The charting capabilities are quite advanced, being able to chart all types of important indicators and the community commentary is often useful to check the validity of your analysis.
2. Morningstar (best for news and fundamentals)
Morningstar is one of the premier news and fundamental websites available. The company's news are often less biased than other sources like Yahoo Finance and the Motley Fool. From here, finding potential investment opportunities to research further is not difficult.
Moreover, the fundamental data available is comprehensive and easy to navigate for pretty much any company of your choosing.
Unlike other websites, Morningstar is focused on providing tools and help all around for investors, including the ability to track your portfolio, get personal finance recommendations, see analyst ratings, and more.
3. SEC stock filing navigator (best for analyzing annual and quarterly reports)
Without a doubt, the SEC stock filing navigator is one of the best stock analyses you can, especially if you invest based on the business and its fundamentals.
The great thing about this tool is that it is completely free to use and contains powerful features such as automatic highlights, advanced search, tags, filters, and more.
You can truly go in-depth and find very valuable information about a particular stock and this is built right into the SEC, so you can also access financial statement notes and disclosures in a few clicks.
All this information is critical to assessing the long-term outlook of a particular company and deciding whether or not it deserves further research on the business and market.
To learn more about how to read annual reports effectively check out this article we have written on the subject.
4. Wisesheets (best for getting stock data on Google Sheets and Excel)
Wisesheets is the best tool you can use to complete any type of financial analysis on any stock of your choice. Using the tool's simple functions, you can get all the stock data you need right on your Excel or Google Sheet spreadsheet, including financial statements going back 19 years, key metrics, and real-time price data.
Once you build a model of analysis that you like for potential stocks, you can simply change the ticker and get all the data you need at once without wasting countless hours gathering and formatting the data for every company you analyze.
This allows you to analyze hundreds of companies at once instead of a few at a time and thus enabling you to find more profitable investments faster.
For more details on how Wisesheets works check out this guide on the subject.
5. SeekingAlpha (best for stock analysis and opinions)
The last stock analysis tool you should check out is Seeking Alpha. Seeing Alpha is the best platform to get comprehensive stock analyses on particular companies along with commentary from the community.
The platform allows for both in-depth fundamental and technical stock analysis so you can filter based on your investment style.
We recommend using this tool in the end because it is very powerful as a way to see how other people are analyzing particular companies after you have conducted your own analysis.
Of course, you can also use it to find interesting investment opportunities, but the analysis can bias your own opinion and thus make your own due diligence less effective.
There you have it, the five best stock analysis tools for individual investors. Remember to always do your own research before investing in any stock and never make an investment decision based on someone else's opinion.
Let us know which tools you use below 👇