> For the complete documentation index, see [llms.txt](https://docs.tickertrends.io/tickertrends/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tickertrends.io/tickertrends/documentation-v2/2.-data-coverage-and-data-types/2.2-raw-data-types/2.3-social-discussion-analysis/market-expectations.md).

# Market expectations

**Market Expectations** helps users understand whether a company looks cheap or expensive relative to the KPI expectations implied by the market.

This module uses a proprietary **Bogey** estimate. The Bogey is designed to approximate **buy-side expectations** for a KPI rather than relying only on analyst consensus.

This matters because consensus often misses the true hurdle a company needs to clear. A stock can beat consensus and still fall if the market expected more. It can also miss consensus and still rise if expectations were already low.

#### What it shows

The module compares:

* **Bogey** — the KPI level the market may already be pricing in
* **Earnings / reported expectation context**
* A relative view of whether expectations look **low or high**

This helps users judge whether current social and alternative data signals point to upside or downside relative to what investors may already expect.

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