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Is Salesforce.com (CRM) Outperforming Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Salesforce.com (CRM - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Salesforce.com is a member of our Computer and Technology group, which includes 624 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. CRM is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CRM's full-year earnings has moved 21.53% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CRM has gained about 52.11% so far this year. At the same time, Computer and Technology stocks have gained an average of 12.35%. This means that Salesforce.com is outperforming the sector as a whole this year.
To break things down more, CRM belongs to the Computer - Software industry, a group that includes 50 individual companies and currently sits at #63 in the Zacks Industry Rank. On average, this group has gained an average of 28.51% so far this year, meaning that CRM is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CRM as it looks to continue its solid performance.
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Is Salesforce.com (CRM) 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 Salesforce.com (CRM - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Salesforce.com is a member of our Computer and Technology group, which includes 624 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. CRM is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CRM's full-year earnings has moved 21.53% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CRM has gained about 52.11% so far this year. At the same time, Computer and Technology stocks have gained an average of 12.35%. This means that Salesforce.com is outperforming the sector as a whole this year.
To break things down more, CRM belongs to the Computer - Software industry, a group that includes 50 individual companies and currently sits at #63 in the Zacks Industry Rank. On average, this group has gained an average of 28.51% so far this year, meaning that CRM is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CRM as it looks to continue its solid performance.