Needham
Upgrade grade
A
Downgrade grade
B
Needham & Company was founded in 1987 by George Needham as an independent investment bank focused on equity research and institutional sales. The firm has grown into a respected mid-sized player in the research space, maintaining a deliberately boutique approach rather than pursuing mega-firm scale, with approximately 8,942 analyst ratings calls covering US equities in our database. Needham is particularly renowned for deep expertise in technology, internet, healthcare, and communications sectors, where their analysts have developed reputations for contrarian insights and thorough company vetting. The firm is distinctive for its emphasis on fundamental research independence and long-term investor relationships rather than transactional banking, creating a culture where analysts are known for taking principled contrarian stances that don't always align with Wall Street consensus.
Upgrades
270
78.52% win rate
· avg +4.87% D1
Downgrades
317
76.03% win rate
· avg -4.78% D1
Avg Gap — Upgrades
+4.32%
open vs prev close
Avg Gap — Downgrades
-4.28%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Technology | 79.08% (153) | +4.76% | 75.00% (176) | -5.01% |
| Healthcare | 80.00% (65) | +6.75% | 80.25% (81) | -3.84% |
| Consumer Cyclical | 79.17% (24) | +1.81% | 64.29% (28) | -1.49% |
| Industrials | 75.00% (12) | +5.20% | 70.00% (10) | -2.17% |
| Communication Services | — | — | 84.62% (13) | -11.27% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|---|---|---|---|
| 2026 | 66.7% | 21 | 40.0% | 15 |
| 2025 | 77.3% | 22 | 85.0% | 20 |
| 2024 | 90.0% | 20 | 73.9% | 23 |
| 2023 | 71.4% | 14 | 75.8% | 33 |
| 2022 | 78.6% | 14 | 80.0% | 30 |
| 2021 | 91.3% | 23 | 82.4% | 17 |
| 2020 | 80.8% | 26 | 72.7% | 22 |
| 2019 | 64.3% | 14 | 68.8% | 32 |
| 2018 | 90.0% | 20 | 66.7% | 21 |
| 2017 | 80.0% | 20 | — | — |
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| Jul 2, 2026 | SILC | Silicom Ltd. | Technology | Upgrade | Hold → Buy | $60 | +11.1% | -3.6% |
| Jul 1, 2026 | CARL | Carlsmed, Inc. | Healthcare | Initiates | Buy | $17 | +4.3% | +12.8% |
| Jun 29, 2026 | SEI | Solaris Energy Infrastructure, Inc. | Energy | Initiates | Buy | $97 | -0.3% | +3.2% |
| Jun 29, 2026 | QNT | — | — | Initiates | Buy | $100 | +5.2% | -3.6% |
| Jun 29, 2026 | LFTO | — | — | Initiates | Buy | $42 | +2.0% | -7.0% |
| Jun 26, 2026 | NU | Nu Holdings Ltd. | Financial Services | Initiates | Buy | $17 | -0.1% | +5.7% |
| Jun 26, 2026 | BNED | Barnes & Noble Education, Inc. | Consumer Cyclical | Upgrade | Hold → Buy | $16 | +3.8% | +2.3% |
| Jun 25, 2026 | VELO | Velo3D, Inc. | Technology | Initiates | Buy | $33 | +13.6% | -3.7% |
| Jun 25, 2026 | MU | Micron Technology, Inc. | Technology | Reiterates | Buy | $1650 | +17.6% | +15.7% |
| Jun 23, 2026 | DFTX | Definium Therapeutics, Inc. | Healthcare | Reiterates | Buy | $50 | -0.7% | -1.3% |
| Jun 22, 2026 | MU | Micron Technology, Inc. | Technology | Reiterates | Buy | $1550 | +5.5% | +6.8% |
| Jun 17, 2026 | NEOV | NeoVolta Inc. | Industrials | Initiates | Buy | $8 | +14.6% | +24.0% |
| Jun 16, 2026 | NMRA | Neumora Therapeutics, Inc. Common Stock | Healthcare | Reiterates | Buy | $5 | +3.9% | +70.6% |
| Jun 15, 2026 | CEVA | CEVA, Inc. | Technology | Initiates | Buy | $55 | +5.6% | +5.3% |
| Jun 12, 2026 | LTRX | Lantronix, Inc. | Technology | Reiterates | Buy | $11 | +4.9% | -2.5% |
| Jun 10, 2026 | POWI | Power Integrations, Inc. | Technology | Initiates | Buy | $90 | -0.3% | -0.1% |
| Jun 10, 2026 | HYLN | Hyliion Holdings Corp. | Consumer Cyclical | Initiates | Buy | $9 | +3.0% | +9.1% |
| Jun 8, 2026 | CBRS | — | — | Initiates | Buy | $300 | +5.8% | +18.3% |
| Jun 8, 2026 | BIIB | Biogen Inc. | Healthcare | Upgrade | Hold → Buy | $255 | +1.0% | -1.4% |
| Jun 5, 2026 | PL | Planet Labs PBC | Industrials | Reiterates | Buy | $53 | -12.0% | -26.0% |
| Jun 5, 2026 | COO | The Cooper Companies, Inc. | Healthcare | Reiterates | Buy | $86 | +5.2% | +8.6% |
| Jun 4, 2026 | CRWD | CrowdStrike Holdings, Inc. | Technology | Reiterates | Buy | $780 | -9.8% | -3.8% |
| Jun 3, 2026 | HQ | Horizon Quantum Holdings Ltd. Class A Ordinary Shares | Technology | Initiates | Buy | $20 | -1.6% | -9.2% |
| Jun 3, 2026 | HRTX | Heron Therapeutics, Inc. | Healthcare | Downgrade | Buy → Hold | — | +6.1% | -0.7% |
| Jun 2, 2026 | MANE | Veradermics, Incorporated | Healthcare | Initiates | Buy | $136 | +0.0% | -3.3% |