I am repeatedly finding that, when I drill down to the original source material, Stockopedia is publishing inaccurate broker forecasts in its StockReports. A prime example is Coral Products (LON:CRU), which is covered by just one broker - WH Ireland. As of last week, the published forecasts were correct. However, when I checked this evening, they were materially wrong, presenting an entirely misleading picture where it looks like forecasts have been slashed.
The table below shows the comparison between the genuine forecasts from WH Ireland and the incorrect ones from Stockopedia.
Thus, the StockReport shows that there has been a 33% cut in the projected EPS for 2022 this month when, in reality, there has been no such thing. The potential for false information on Stockopedia to influence investment decisions by its subscribers is clear.
When I raise these matters with Stockopedia, the pat response is to blame their data provider. This is simply not good enough. Stockopedia is publishing these numbers and it cannot outsource responsibility for their accuracy to their subcontractor.
This is major bugbear for me and I believe that Stockopedia is letting down its subscribers badly by failing to deal with the issue. I suggest that others with a similar complaint use this discussion to highlight other examples of errors and/or to express their dissatisfaction with the service they are getting in this regard.
