Investors focused on the Computer and Technology space have likely heard of Etsy (ETSY - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Etsy is a member of the Computer and Technology sector. This group includes 604 individual stocks and currently holds a Zacks Sector Rank of #7. 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 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. ETSY is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ETSY's full-year earnings has moved 100.14% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ETSY has gained about 170.20% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 15.32% on average. This means that Etsy is performing better than its sector in terms of year-to-date returns.
To break things down more, ETSY belongs to the Internet - Services industry, a group that includes 47 individual companies and currently sits at #117 in the Zacks Industry Rank. On average, stocks in this group have gained 28.18% this year, meaning that ETSY 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 ETSY as it looks to continue its solid performance.