The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Pinterest (PINS - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Pinterest is one of 604 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 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. PINS is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PINS's full-year earnings has moved 30.26% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that PINS has returned about 84.44% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 15.95%. This means that Pinterest is performing better than its sector in terms of year-to-date returns.
Looking more specifically, PINS belongs to the Internet - Software industry, which includes 90 individual stocks and currently sits at #173 in the Zacks Industry Rank. On average, this group has gained an average of 63.78% so far this year, meaning that PINS is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track PINS. The stock will be looking to continue its solid performance.