Back to top

Image: Bigstock

Is Bakkt (BKKT) Stock Outpacing Its Business Services Peers This Year?

Read MoreHide Full Article

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Bakkt Holdings, Inc. (BKKT - 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 Business Services peers, we might be able to answer that question.

Bakkt Holdings, Inc. is one of 345 individual stocks in the Business Services sector. Collectively, these companies sit at #4 in 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Bakkt Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for BKKT's full-year earnings has moved 32.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, BKKT has returned 44.5% so far this year. Meanwhile, the Business Services sector has returned an average of 0.7% on a year-to-date basis. This means that Bakkt Holdings, Inc. is performing better than its sector in terms of year-to-date returns.

Another Business Services stock, which has outperformed the sector so far this year, is Cap Gemini SA (CGEMY - Free Report) . The stock has returned 6.6% year-to-date.

For Cap Gemini SA, the consensus EPS estimate for the current year has increased 7.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Bakkt Holdings, Inc. is a member of the Technology Services industry, which includes 199 individual companies and currently sits at #151 in the Zacks Industry Rank. Stocks in this group have gained about 6.1% so far this year, so BKKT is performing better this group in terms of year-to-date returns.

In contrast, Cap Gemini SA falls under the Outsourcing industry. Currently, this industry has 14 stocks and is ranked #54. Since the beginning of the year, the industry has moved -7.3%.

Investors interested in the Business Services sector may want to keep a close eye on Bakkt Holdings, Inc. and Cap Gemini SA as they attempt to continue their solid performance.

See More Zacks Research for These Tickers

Normally $25 each - click below to receive one report FREE:

Cap Gemini SA (CGEMY) - free report >>

Bakkt Holdings, Inc. (BKKT) - free report >>

Published in