Collectively these analysts are influential as most of the big banks have huge trust depts. The folks who manage the funds/accounts of customers in the trust depts, do follow their own analysts' recommendation. These translate into a stream of BUY orders when the accounts go through a review which they do = usually every month or every 3 months.
Additionally those big trust depts fellow the practice of dollar averaging, that is investing the same amounts of funds periodically. = a practice as old as the hills =
translation = when the market is down ["correcting hard"] , the accounts buy more shares + when the market is up, they buy fewer shares.
For long-term investors, this has proved to be a sound practice over many decades.