We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Has Shopify (SHOP) Outpaced Other Computer and Technology Stocks This Year?
Read MoreHide Full Article
Investors focused on the Computer and Technology space have likely heard of Shopify (SHOP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Shopify is one of 632 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. SHOP is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SHOP's full-year earnings has moved 494.55% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SHOP has gained about 3.40% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 0.38% on a year-to-date basis. As we can see, Shopify is performing better than its sector in the calendar year.
To break things down more, SHOP belongs to the Internet - Services industry, a group that includes 50 individual companies and currently sits at #123 in the Zacks Industry Rank. Stocks in this group have lost about 0.91% so far this year, so SHOP is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on SHOP as it attempts to continue its solid performance.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Has Shopify (SHOP) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Shopify (SHOP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Shopify is one of 632 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. SHOP is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SHOP's full-year earnings has moved 494.55% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SHOP has gained about 3.40% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 0.38% on a year-to-date basis. As we can see, Shopify is performing better than its sector in the calendar year.
To break things down more, SHOP belongs to the Internet - Services industry, a group that includes 50 individual companies and currently sits at #123 in the Zacks Industry Rank. Stocks in this group have lost about 0.91% so far this year, so SHOP is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on SHOP as it attempts to continue its solid performance.