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BW Score Rank#50 of 347

Nathan Race

Piper Sandler · Equity Research Analyst
✓ SkilledProvisionalRating since 2022No new ratings since Apr 2025

Analyst rating accuracy & track record

Nathan Race is an equity research analyst at Piper Sandler. Bullish Whales has scored 37 of their stock calls across 10 companies. Their picks beat their sector 50% of the time over the next 12 months, and their price targets were reached 48% of the time within a year.

Win % vs sector
50%
PT Hit % (12mo)
48%
Avg sector-excess
+2.5%
Scored calls
37
Tickers
10
Tier
Provisional
Skilled

Track record

Bullish Whales has scored 37 of Nathan Race's stock calls across 10 companies, dating back to 2022. Their rated stocks beat their own sector 50% of the time over the next 12 months. On a typical call, a Race pick returned +2.5% more than its sector over the following year.

Of the scored calls, 31 were bullish (Buy) and 6 were bearish (Sell). Most of their coverage sits in Financial Services. Every number on this page is an estimate from our own data. It is for education only and is not investment advice.

Coverage & ratings

Ratings & price targets

StockRatingPrice targetRated12-mo vs sectorPT hit
FRMEFirst Merchants Corporation
Buy$49.00Apr 2025+8.9%Miss
FBIZFirst Business Financial Services
Buy$58.00Apr 2025+14.3%Hit
SRCE1st Source Corporation
Buy$75.00Apr 2025+17.7%Hit
QCRHQCR Holdings Inc
Buy$88.00Apr 2025+29.5%Hit
FBIZFirst Business Financial Services
Buy$63.00Feb 2025+5.2%Miss
FRMEFirst Merchants Corporation
Buy$55.00Jan 2025−10.7%Miss
SRCE1st Source Corporation
Buy$72.50Jan 2025+6.0%Miss
PEBOPeoples Bancorp Inc
Buy$40.00Jan 2025−2.2%Miss
BSVNBank7 Corp
Buy$55.00Jan 2025−6.9%Miss
FBIZFirst Business Financial Services
Buy$53.00Oct 2024+3.4%Hit
FRMEFirst Merchants Corporation
Buy$47.00Oct 2024−12.5%Miss
OSBCOld Second Bancorp Inc
Buy$23.00Oct 2024−3.4%Miss
FRMEFirst Merchants Corporation
Buy$50.00Jul 2024−20.5%Miss
FBIZFirst Business Financial Services
Buy$56.00Jul 2024−15.3%Hit
BANFBancFirst Corporation
Sell$95.00Jul 2024−0.3%Miss
OSBCOld Second Bancorp Inc
Buy$19.50Jul 2024−9.7%Miss
BSVNBank7 Corp
Buy$40.00Jul 2024+3.4%Hit
SRCE1st Source Corporation
Buy$60.00Apr 2024+2.8%Hit
FBIZFirst Business Financial Services
Buy$44.00Mar 2024+24.4%Hit
QCRHQCR Holdings Inc
Buy$74.00Jan 2024−5.3%Hit
BWBBridgewater Bancshares Inc
Buy$15.50Jan 2024−33.8%Hit
BSVNBank7 Corp
Buy$27.00Oct 2023+64.7%Hit
BANFBancFirst Corporation
Sell$79.00Oct 2023+10.6%Miss
OSBCOld Second Bancorp Inc
Buy$19.00Oct 2023−28.4%Miss
QCRHQCR Holdings Inc
Buy$64.00Jul 2023+23.4%Hit
SRCE1st Source Corporation
Buy$53.00Jul 2023+13.9%Hit
BANFBancFirst Corporation
Sell$82.00Jul 2023+12.9%Hit
OSBCOld Second Bancorp Inc
Buy$19.00Jul 2023−16.1%Miss
BSVNBank7 Corp
Buy$31.00May 2023−7.1%Miss
BANFBancFirst Corporation
Sell$73.00Apr 2023+13.1%Hit
QCRHQCR Holdings Inc
Buy$58.00Jan 2023+14.5%Hit
SRCE1st Source Corporation
Buy$58.00Jan 2023+7.8%Miss
BANFBancFirst Corporation
Sell$84.00Jan 2023−5.7%Hit
MBINMerchants Bancorp
Buy$30.00Sep 2022+10.4%Hit
BSVNBank7 Corp
Buy$32.00Sep 2022+3.3%Miss
BANFBancFirst Corporation
Sell$79.00May 2022+10.0%Hit
QCRHQCR Holdings Inc
Buy$77.00Apr 2022−10.2%Miss
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Nathan Race: analyst track record FAQ

Is Nathan Race a good stock analyst?

Yes, by track record. Nathan Race ranks number 50 of 347 of the analysts Bullish Whales scores, with a BW Score of 57 out of 100. Their edge holds up after we account for testing thousands of analysts at once, so they clear our Skilled bar. Past results do not guarantee future ones.

What is Nathan Race's win rate?

Nathan Race's win rate is 50%. Across 37 scored calls, their rated stocks beat their sector 50% of the time over the next 12 months. On a typical call they returned +2.5% more than the sector.

What stocks and sectors does Nathan Race cover?

Nathan Race covers 10 companies, with the most coverage in Financial Services. See the ratings table above for every scored call and its outcome.

Are Nathan Race's price targets accurate?

Nathan Race's price targets are reached within 12 months 48% of the time. The base rate across all analysts Bullish Whales tracks is about 43 percent.

How accurate are Wall Street analyst price targets?

Most analyst price targets are not reached on schedule. Across every target Bullish Whales scores, the stock reaches the target within 12 months only about 43 percent of the time, which is why it helps to compare hit rates analyst by analyst.

Should I follow Nathan Race's stock ratings?

Their track record is strong, but no analyst is right every time. Follow the long-term track record rather than any single rating, size your positions to your own risk, and treat this as research, not investment advice.

How does Bullish Whales score analyst accuracy?

Bullish Whales scores every rating on real prices. We enter at the closing price on or after the call date, with no look-ahead, then measure the 12-month return above the stock's sector ETF and check whether the price target was reached. Scores are pulled toward the population average and corrected for testing thousands of analysts at once, so they reflect repeatable skill rather than luck.

How does Nathan Race rank among Wall Street analysts?

Nathan Race ranks number 50 of 347 by BW Score. We rank analysts by their realized 12-month sector-excess return and require a minimum number of calls so a few lucky picks cannot reach the top.

Browse the full analyst leaderboardHow analyst accuracy is scored

Every score, Win %, PT Hit % and rank is an estimate Bullish Whales calculates from its own data and may not be 100% accurate or complete. Returns are measured in excess of each rated stock's own sector over the 12 months after each call. Past performance does not guarantee future results, and nothing here is a recommendation to buy or sell any security.

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