The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has SendGrid been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
SendGrid is one of 626 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SEND is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SEND's full-year earnings has moved 58.97% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SEND has returned 33.50% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 10.07% on a year-to-date basis. As we can see, SendGrid is performing better than its sector in the calendar year.
To break things down more, SEND belongs to the Communication - Network Software industry, a group that includes 4 individual companies and currently sits at #116 in the Zacks Industry Rank. Stocks in this group have gained about 45.72% so far this year, so SEND is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on SEND as it attempts to continue its solid performance.
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Is SendGrid (SEND) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has SendGrid been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
SendGrid is one of 626 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SEND is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SEND's full-year earnings has moved 58.97% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SEND has returned 33.50% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 10.07% on a year-to-date basis. As we can see, SendGrid is performing better than its sector in the calendar year.
To break things down more, SEND belongs to the Communication - Network Software industry, a group that includes 4 individual companies and currently sits at #116 in the Zacks Industry Rank. Stocks in this group have gained about 45.72% so far this year, so SEND is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on SEND as it attempts to continue its solid performance.