The LSE Directory / Data providers
Estimize operates an open platform that collects forward looking financial estimates, earnings per share, revenue, select company specific KPIs, and roughly 85 economic indicators each quarter, from a large pool of contributing analysts, then aggregates them into a crowdsourced consensus. Contributors include buy side and sell side professionals, independent analysts, students and academics; the platform's reciprocity model gives contributors free access to the aggregated data in exchange for submitting their own honest, pseudonymous estimates, with machine learning checks and human review used to screen for bad faith submissions. The platform's differentiator against incumbent consensus providers such as I/B/E/S is timeliness and breadth of contributor base rather than exchange or vendor data infrastructure: because individual contributors can update their estimates at any time ahead of an earnings release, Estimize's consensus can move faster than the sell side consensus, which updates on analysts' own publication schedules. Estimize and its owner ExtractAlpha report that the Estimize consensus has been more accurate than comparable sell side estimates in the majority of cases studied. Its customer base spans institutional investors, academic researchers (the dataset is distributed through Wharton Research Data Services, covering estimate data back to 2010) and, since a 2024 partnership, retail brokerage clients. Estimize was founded in 2011 by Leigh Drogen, a former hedge fund manager, as an independent crowdsourced estimates platform. In May 2021, Estimize merged with ExtractAlpha, an alternative data and quantitative signals firm founded in 2013 by Vinesh Jha; Jha became CEO of the combined companies and Drogen moved into an advisory role. At the time of the merger, Estimize had gathered contributions from more than 111,000 analysts; that contributor count has since grown past 120,000, with quarterly coverage cited at over 2,000 to 3,000 U.S. stocks depending on the period reported. Estimize data is also distributed through third party platforms including FactSet and QuantConnect. In December 2024, ExtractAlpha announced a collaboration with Interactive Brokers to integrate Estimize's EPS, revenue and KPI estimates directly into Interactive Brokers' Trader Workstation (Mosaic) and IBKR client portal, with accompanying educational material on IBKR Campus, extending the dataset from an institutional and academic audience toward individual retail traders. ExtractAlpha has said it plans to extend similar Estimize data access to other brokerage and fintech platforms.
