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Is Avalara (AVLR) Outperforming Other Computer and Technology Stocks This Year?

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Investors focused on the Computer and Technology space have likely heard of Avalara (AVLR - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AVLR and the rest of the Computer and Technology group's stocks.

Avalara is one of 606 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AVLR is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for AVLR's full-year earnings has moved 5.99% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, AVLR has moved about 79.66% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 17.05% on a year-to-date basis. As we can see, Avalara is performing better than its sector in the calendar year.

Looking more specifically, AVLR belongs to the Internet - Software industry, a group that includes 91 individual stocks and currently sits at #94 in the Zacks Industry Rank. This group has gained an average of 58.29% so far this year, so AVLR is performing better in this area.

Investors with an interest in Computer and Technology stocks should continue to track AVLR. The stock will be looking to continue its solid performance.

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