Start 30 days free, no card. Full Pro access for a month, then decide. Start free

Research firms

How research firms question management on earnings calls: the companies they cover, how often they ask, and how often their questions are challenging.

Across tracked earnings calls. Ranked by questions asked, most first. Firms with fewer than 10 questions are marked Limited sample.

What challenge rate means

Challenge rate is the share of a firm’s questions that pushed back, pressed for specifics or questioned management’s assumptions. Each profile reflects the calls where that firm’s analysts asked questions, so profiles cover different companies and dates. It describes how questions are asked; it does not measure whether any view about a company turned out to be right.

Search firms

Sector covered

Challenge rate

Sort by

177 firms · showing 1–50, page 1 of 4

Research firms, ranked by questions asked, most first
Firm	Analysts	Companies	Questions	Challenge rate	Top topics
JPMorgan	113	487	3,799	8%	Demand · Revenue Growth · Competitive Dynamics
Bank of America	138	469	3,404	13%	Demand · Competitive Dynamics · Revenue Growth
Morgan Stanley	112	436	3,269	8%	Demand · Competitive Dynamics · Revenue Growth
UBS	102	446	3,109	11%	Demand · Revenue Growth · Margin
Wells Fargo	89	413	3,060	11%	Demand · Revenue Growth · Margin
Goldman Sachs	95	425	3,031	8%	Demand · Revenue Growth · Competitive Dynamics
Barclays	93	407	2,854	9%	Demand · Revenue Growth · Competitive Dynamics
Citigroup	96	387	2,443	7%	Demand · Revenue Growth · Competitive Dynamics
Jefferies	112	387	2,430	7%	Demand · Competitive Dynamics · Revenue Growth
Wolfe Research	74	321	2,253	10%	Demand · Revenue Growth · Margin
Evercore ISI	63	318	2,153	11%	Demand · Revenue Growth · Margin
TD Cowen	76	282	1,745	10%	Demand · Competitive Dynamics · Revenue Growth
RBC Capital Markets	66	262	1,603	6%	Demand · Competitive Dynamics · Revenue Growth
Deutsche Bank	57	280	1,597	8%	Demand · Competitive Dynamics · Revenue Growth
Robert W. Baird	63	183	1,260	5%	Demand · Revenue Growth · Competitive Dynamics
BMO Capital Markets	44	186	1,215	9%	Demand · Revenue Growth · Competitive Dynamics
Mizuho Securities	37	216	1,116	7%	Demand · Competitive Dynamics · Revenue Growth
Truist Securities	55	190	1,014	10%	Demand · Margin · Competitive Dynamics
Raymond James	53	151	947	7%	Demand · Competitive Dynamics · Revenue Growth
Piper Sandler	41	165	926	9%	Demand · Competitive Dynamics · Margin
Stifel	46	137	858	7%	Demand · Revenue Growth · Competitive Dynamics
Bernstein	40	161	853	15%	Demand · Margin · Competitive Dynamics
Oppenheimer	35	139	800	6%	Demand · Revenue Growth · Competitive Dynamics
KeyBanc Capital Markets	41	135	783	5%	Demand · Revenue Growth · Competitive Dynamics
William Blair	55	134	777	6%	Demand · Revenue Growth · Competitive Dynamics
BNP Paribas	38	128	649	12%	Demand · Competitive Dynamics · Revenue Growth
Melius Research	11	101	634	7%	Demand · Competitive Dynamics · Revenue Growth
Cantor Fitzgerald	27	116	626	8%	Demand · Competitive Dynamics · Revenue Growth
KBW	18	75	565	5%	Competitive Dynamics · Margin · Demand
Needham	35	82	493	8%	Demand · Competitive Dynamics · Cloud & AI
Scotiabank	23	86	493	9%	Demand · Capex Investment · Capital Allocation
Vertical Research Partners	8	56	454	9%	Demand · Margin · Revenue Growth
Stephens	29	58	403	5%	Demand · Competitive Dynamics · Margin
Guggenheim	28	84	388	9%	Competitive Dynamics · Demand · Revenue Growth
Seaport Research Partners	17	68	384	8%	Demand · Margin · Revenue Growth
Autonomous Research	12	62	370	9%	Revenue Growth · Margin · Competitive Dynamics
BTIG	29	70	311	5%	Demand · Competitive Dynamics · Revenue Growth
Leerink Partners	13	42	243	9%	Demand · Competitive Dynamics · Revenue Growth
Citizens JMP Securities	13	47	233	4%	Demand · Competitive Dynamics · Revenue Growth
Susquehanna	10	46	213	8%	Demand · Competitive Dynamics · Revenue Growth
MoffettNathanson	6	31	203	8%	Competitive Dynamics · Demand · Capex Investment
Green Street	15	25	193	8%	Capital Allocation · Demand · Competitive Dynamics
ROTH Capital Partners	13	32	187	6%	Demand · Competitive Dynamics · Revenue Growth
Redburn Atlantic	27	60	183	11%	Competitive Dynamics · Demand · Revenue Growth
Loop Capital	13	35	181	4%	Demand · Cloud & AI · Product Launch
D.A. Davidson	15	38	171	15%	Demand · Revenue Growth · Competitive Dynamics
B. Riley Securities	18	26	168	2%	Demand · Competitive Dynamics · Revenue Growth
Canaccord Genuity	19	33	166	4%	Demand · Competitive Dynamics · Product Launch
Northcoast Research	7	25	144	5%	Demand · Competitive Dynamics · Pricing
Tudor, Pickering, Holt	7	22	135	4%	Demand · Capex Investment · Margin

How to use Firms & Analysts How to read challenge ratesMore firms are added as earnings calls are processed.