William Blair
Upgrade grade
B
Downgrade grade
A
William Blair is an independent, employee-owned investment bank and equity research firm founded in 1935 by William Blair himself, establishing a century-long tradition of rigorous fundamental analysis and client-focused advisory services. The firm maintains a strong middle-market focus with approximately 865 analyst ratings calls covering U.S. equities, positioning them as a respected voice across institutional and corporate client bases. William Blair's research team is particularly known for deep expertise in healthcare, technology, consumer, and financial services sectors, where they've built reputations for identifying secular trends and providing detailed company assessments. A distinctive hallmark of their research culture is their commitment to independence and long-term perspective, eschewing the pressures of short-term trading flows that can influence larger Wall Street competitors, which has allowed them to maintain consistent coverage and build lasting relationships with companies and investors alike.
Upgrades
199
76.88% win rate
· avg +4.95% D1
Downgrades
345
78.84% win rate
· avg -10.00% D1
Avg Gap — Upgrades
+4.42%
open vs prev close
Avg Gap — Downgrades
-9.85%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Healthcare | 75.00% (56) | +7.26% | 84.09% (88) | -19.85% |
| Technology | 80.00% (40) | +5.65% | 70.51% (78) | -6.30% |
| Industrials | 79.63% (54) | +2.04% | 82.54% (63) | -5.38% |
| Consumer Cyclical | 80.00% (25) | +6.82% | 76.92% (52) | -8.57% |
| Financial Services | 76.92% (13) | +3.21% | 89.66% (29) | -4.44% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|---|---|---|---|
| 2026 | 90.9% | 11 | 41.4% | 29 |
| 2025 | 72.4% | 29 | 83.6% | 55 |
| 2024 | 73.7% | 19 | 93.3% | 30 |
| 2023 | 81.8% | 11 | 93.5% | 31 |
| 2022 | 80.0% | 10 | 78.1% | 32 |
| 2021 | 81.3% | 16 | 66.7% | 15 |
| 2020 | 50.0% | 14 | 71.4% | 14 |
| 2019 | 90.9% | 11 | 76.5% | 17 |
| 2018 | 93.3% | 15 | 85.7% | 14 |
| 2017 | 73.7% | 19 | 70.6% | 17 |
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| Jun 11, 2026 | JILL | J.Jill, Inc. | Consumer Cyclical | Downgrade | Outperform → Mkt Perform | — | -2.8% | +7.7% |
| Jun 8, 2026 | FRVO | — | — | Initiates | Outperform | $43 | +3.7% | -8.8% |
| Jun 4, 2026 | KRT | Karat Packaging Inc. | Consumer Cyclical | Upgrade | Mkt Perform → Outperform | — | +7.0% | +5.6% |
| Jun 1, 2026 | SUJA | — | — | Initiates | Outperform | — | +0.5% | -9.3% |
| Jun 1, 2026 | HAWK | — | — | Initiates | Outperform | — | +1.5% | -4.2% |
| May 27, 2026 | VRRM | Verra Mobility Corporation | Technology | Downgrade | Outperform → Mkt Perform | — | -57.9% | -70.6% |
| May 22, 2026 | ESTC | Elastic N.V. | Technology | Initiates | Outperform | — | +1.4% | +1.8% |
| May 21, 2026 | DT | Dynatrace, Inc. | Technology | Reiterates | Outperform | — | -1.0% | -1.8% |
| May 20, 2026 | PODD | Insulet Corporation | Healthcare | Reiterates | Outperform | — | -0.3% | +1.3% |
| May 20, 2026 | CASY | Casey's General Stores, Inc. | Consumer Cyclical | Initiates | Outperform | — | +0.7% | +0.0% |
| May 18, 2026 | FTW | Presidio Production Company | Energy | Initiates | Outperform | — | — | — |
| May 14, 2026 | MDXH | MDxHealth S.A. | Healthcare | Downgrade | Outperform → Mkt Perform | — | -45.1% | -49.5% |
| May 13, 2026 | VSTS | Vestis Corporation | Industrials | Upgrade | Mkt Perform → Outperform | — | +4.1% | -6.2% |
| May 12, 2026 | KLRA | Kailera Therapeutics, Inc. | Healthcare | Initiates | Outperform | — | +2.1% | -2.7% |
| May 12, 2026 | AVEX | Aevex Corp. | Industrials | Initiates | Outperform | — | +5.6% | +15.3% |
| May 11, 2026 | WSE | — | — | Initiates | Outperform | — | +10.1% | +6.2% |
| May 11, 2026 | MAIR | Madison Air Solutions Corporation | Industrials | Initiates | Outperform | — | +4.7% | +0.1% |
| May 11, 2026 | ARXS | Arxis, Inc. Class A Common Stock | Industrials | Initiates | Outperform | — | +0.9% | +9.9% |
| May 8, 2026 | TTD | The Trade Desk, Inc. | Technology | Downgrade | Outperform → Mkt Perform | — | -10.7% | -1.7% |
| May 8, 2026 | HUBS | HubSpot, Inc. | Technology | Downgrade | Outperform → Mkt Perform | — | -23.7% | -19.0% |
| May 7, 2026 | PLNT | Planet Fitness, Inc. | Consumer Cyclical | Downgrade | Outperform → Mkt Perform | — | -29.9% | -31.2% |
| May 4, 2026 | RMIX | Suncrete, Inc. Class A Common Stock | — | Initiates | Outperform | — | +2.5% | +0.1% |
| May 4, 2026 | HTFL | Heartflow, Inc. Common Stock | Healthcare | Initiates | Outperform | — | +1.1% | +1.0% |
| Apr 30, 2026 | EXE | Expand Energy Corporation | Energy | Downgrade | Outperform → Market Perform | — | -1.6% | +1.1% |
| Apr 30, 2026 | EXE | Expand Energy Corporation | Energy | Downgrade | Outperform → Mkt Perform | — | -1.6% | +1.1% |