For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Alphabet Inc. (GOOG - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Alphabet Inc. is one of 640 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. Alphabet Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GOOG's full-year earnings has moved 5.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, GOOG has gained about 34.2% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 33.5% on a year-to-date basis. As we can see, Alphabet Inc. is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Alphabet (GOOGL - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 34.1%.
For Alphabet, the consensus EPS estimate for the current year has increased 5.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Alphabet Inc. is a member of the Internet - Services industry, which includes 42 individual companies and currently sits at #63 in the Zacks Industry Rank. This group has gained an average of 34.4% so far this year, so GOOG is slightly underperforming its industry in this area. Alphabet is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Alphabet Inc. and Alphabet. These stocks will be looking to continue their solid performance.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Alphabet Inc. (GOOG - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Alphabet Inc. is one of 640 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. Alphabet Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GOOG's full-year earnings has moved 5.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, GOOG has gained about 34.2% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 33.5% on a year-to-date basis. As we can see, Alphabet Inc. is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Alphabet (GOOGL - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 34.1%.
For Alphabet, the consensus EPS estimate for the current year has increased 5.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Alphabet Inc. is a member of the Internet - Services industry, which includes 42 individual companies and currently sits at #63 in the Zacks Industry Rank. This group has gained an average of 34.4% so far this year, so GOOG is slightly underperforming its industry in this area. Alphabet is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Alphabet Inc. and Alphabet. These stocks will be looking to continue their solid performance.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Get the latest research report on GOOG - FREE
Get the latest research report on GOOGL - FREE