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Is Zoom Video Communications (ZM) Outperforming Other Computer and Technology Stocks This Year?

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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Zoom Video Communications (ZM - Free Report) one of those stocks right now? 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.

Zoom Video Communications is one of 621 companies in the Computer and Technology group. The Computer and Technology group currently sits at #11 within 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 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. ZM is currently sporting a Zacks Rank of #3 (Hold).

Over the past three months, the Zacks Consensus Estimate for ZM's full-year earnings has moved 24% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, ZM has gained about -11.78% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 10.36% on average. This shows that Zoom Video Communications is outperforming its peers so far this year.

Looking more specifically, ZM belongs to the Internet - Software industry, a group that includes 112 individual stocks and currently sits at #189 in the Zacks Industry Rank. This group has lost an average of 15.28% so far this year, so ZM is performing better in this area.

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

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