Research

Alternative Data & Intelligence

 

Piper Jaffray alternative data & intelligence specializes in web data collection and analysis to provide insight into investment decisions. Web data combined with advanced statistical analysis enables new critical insights, which help uncover new questions and possibilities. We are passionate about understanding our client’s needs and utilizing our intellectual capital to develop customized solutions. We draw upon our expertise in data scraping and machine learning to develop appropriate strategies to help generate alpha by injecting new insights into your analysis.

Our suite of solutions include:

Analytic Reports


Sample Reports

Price vs. Media Derived Price; Weight Of Evidence Implies Actionable Ideas


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Publication Date January 22, 2019. Media Derived Price (MDP) is a new behavioral finance metric created by the Piper Jaffray Alternative Data & Intelligence Team which quantifies the estimated value of publicity gained through digital media and investor attention. For instance Tesla TV News mentions has a fairly strong relationship (.71 correlation) with the price of Tesla. Going beyond TV News, MDP is a distillation of investor attention from sources: Archive.org, Google, Factset, and Twitter. Our MDP is a synthesis of historical media data paired with Generalized Autoregressive Score (GAS) models to explain price action. The predictive ability of each signal is measured via Weight of Evidence (WoE) and Information Value (IV) which can simplistically be thought of as "# of correct estimates / # of wrong estimates".

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QTD Amazon Search Index Indicates No Deceleration in Q2'17; In Line with Expectations


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Publication Date June 12, 2017. Proprietary analysis of Google search trends from our PJC Data Analytics platform indicates Amazon retail unit growth will likely see little to no deceleration in Q2'17 vs. the 24% experienced in Q1'17. Street estimates also assume little to no FXN retail revenue deceleration; therefore, our analysis suggests Amazon retail is tracking for an in-line quarter. This proprietary analysis has 0.95 correlation with reported unit growth and is, in our view, the strongest indicator of QTD trends for Amazon. We believe strength in retail unit growth is being driven by share gains from Prime Now, continued tailwinds from Prime adoption, international expansion/penetration, and hardware tailwinds (Echo). We continue to believe that Amazon is the best positioned large cap internet platform for the next 5+ years and are raising our price target to $1,200; reiterate OW rating.

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Q4 Listings Growth Remains Solid, But Decelerates on Tough Comp; Reiterate OW


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Publication Date February 7, 2017. Our checks suggest that y/y listings growth on MercadoLibre decelerated slightly in Q4, but continues at an impressive rate (our estimate for listings growth is based on data from proprietary Piper Jaffray data analytics team). For Q4, we believe overall MercadoLibre listings growth was 73%, a deceleration from 83% in Q3. While this listings growth does not tie directly to unit (or revenue) growth for MercadoLibre, it does reflect ongoing improvements in supply that can fuel unit & revenue growth in future quarters. We believe that MercadoLibre's platform is gaining steam with suppliers due to improvements in the site, peripheral functionality that simplifies listing on MercadoLibre, and the removal of listing fees (eliminating the risk of listing). We continue to believe that MercadoLibre is by far the best positioned eCommerce company in Latin America. Maintain OW, $200 PT.

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Review Growth Study Shows Yelp Dominates; Google Growing Slightly Faster


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Publication Date June 4th, 2015. We measure Yelp and Google Plus review growth of 500 places in 20 major cities in the U.S. on a monthly basis. The goal is to measure the consumer review trends between Yelp and Google Plus. Thus far in the June quarter, the total number of Yelp reviews grew 3.9% from end of March 2015 to today, which is slightly below Google Plus review growth at 6.0%. Although review growth in Yelp is slower, we note that the 500 places on Yelp contain 5.3x more reviews vs. Google (87,971 on Yelp vs. 16,498 on Google Plus). Yelp's review dominance remains, in our view. We believe review growth is a key metric to the long term Yelp story. We maintain our Neutral rating and price target of $46.

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Contacts

Travis Jakel
Sr. Research Analyst – Lead Analytics Specialist
+1 612 303-6530 | Email

David Kroger
Analytics Specialist – Lead Analytics Specialist
+1 619 930-5810 | Email