Quantisnow Analyst Sentiment Index
Analyst sentiment in March 2023
Last updated . Recomputed daily.
In March 2023, analysts issued 338 upgrades and 273 downgrades on stocks tracked by Quantisnow, an upgrade-to-downgrade ratio of 1.24 (February: 0.51).
Key figures
- Upgrades
- 338
- Prior month: 207
- Downgrades
- 273
- Prior month: 403
- Upgrade-to-downgrade ratio
- 1.24
- Prior month: 0.51
- Coverage initiated
- 335
- Prior month: 226
- Ratings reiterated
- 83
- Prior month: 173
- All rating actions
- 1,029
- Prior month: 1,009
Upgrades and downgrades by sector, March 2023
| Sector | Upgrades | Downgrades | Ratio | All actions |
|---|---|---|---|---|
| Health Care | 45 | 47 | 0.96 | 220 |
| Consumer Discretionary | 72 | 66 | 1.09 | 193 |
| Technology | 56 | 33 | 1.70 | 155 |
| Finance | 55 | 43 | 1.28 | 134 |
| Industrials | 27 | 26 | 1.04 | 93 |
| Real Estate | 21 | 23 | 0.91 | 73 |
| Energy | 24 | 17 | 1.41 | 58 |
| Utilities | 12 | 4 | 3.00 | 31 |
| Consumer Staples | 12 | 5 | 2.40 | 29 |
| Basic Materials | 7 | 3 | 2.33 | 16 |
| Telecommunications | 5 | 4 | 1.25 | 14 |
| Miscellaneous | 2 | 1 | 2.00 | 11 |
| Transportation | 0 | 1 | 0.00 | 1 |
| Unclassified | 0 | 0 | 0.00 | 1 |
Methodology
Every analyst rating action Quantisnow receives is stored with its brokerage, prior and new rating, and price target. Each action is classified as an upgrade, downgrade, initiation of coverage, resumption of coverage or reiteration (which includes price-target-only changes).
The upgrade-to-downgrade ratio is upgrades divided by downgrades for the month. Sector comes from the covered company's profile; companies without a sector are grouped as Unclassified.
Figures are recomputed daily from the Quantisnow event database. The current month is marked as month to date until it closes; closed months are recomputed for a few days after month end to pick up late filings, then stay fixed.
Definitions for every column are in the JSON download.
Metric definitions
- Upgrades
- (
upgrades) - Downgrades
- (
downgrades) - Upgrade-to-downgrade ratio
- (
ratio): Upgrades divided by downgrades. Above 1.00 means more upgrades than downgrades. - Coverage initiated
- (
initiations) - Ratings reiterated
- (
reiterations) - All rating actions
- (
total)
Download and cite
Free to reuse under CC BY 4.0 with attribution to Quantisnow and a link to this page.
Quantisnow. (2026). Quantisnow Analyst Sentiment Index, March 2023 [Data set]. Retrieved October 27, 2026, from https://www.quantisnow.com/data/analyst-ratings/2023-03
<figure style="margin:0;max-width:720px"><a href="https://www.quantisnow.com/data/analyst-ratings"><img src="https://www.quantisnow.com/data/analyst-ratings.svg" alt="Quantisnow Analyst Sentiment Index chart" width="720" height="340" style="width:100%;height:auto" loading="lazy"></a><figcaption style="font:12px sans-serif;color:#5b6470">Source: <a href="https://www.quantisnow.com/data/analyst-ratings">Quantisnow Analyst Sentiment Index</a> by Quantisnow</figcaption></figure>