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Are Computer and Technology Stocks Lagging Meta Platforms (META) This Year?
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Meta Platforms (META - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Meta Platforms is one of 643 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Meta Platforms is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for META's full-year earnings has moved 28.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, META has gained about 81.9% so far this year. At the same time, Computer and Technology stocks have gained an average of 19.8%. This means that Meta Platforms is outperforming the sector as a whole this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Orange (ORAN - Free Report) . The stock is up 25.9% year-to-date.
In Orange's case, the consensus EPS estimate for the current year increased 3.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Meta Platforms belongs to the Internet - Software industry, a group that includes 146 individual stocks and currently sits at #64 in the Zacks Industry Rank. Stocks in this group have gained about 28.6% so far this year, so META is performing better this group in terms of year-to-date returns.
On the other hand, Orange belongs to the Wireless Non-US industry. This 13-stock industry is currently ranked #113. The industry has moved +15.9% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Meta Platforms and Orange as they could maintain their solid performance.
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Are Computer and Technology Stocks Lagging Meta Platforms (META) This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Meta Platforms (META - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Meta Platforms is one of 643 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Meta Platforms is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for META's full-year earnings has moved 28.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, META has gained about 81.9% so far this year. At the same time, Computer and Technology stocks have gained an average of 19.8%. This means that Meta Platforms is outperforming the sector as a whole this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Orange (ORAN - Free Report) . The stock is up 25.9% year-to-date.
In Orange's case, the consensus EPS estimate for the current year increased 3.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Meta Platforms belongs to the Internet - Software industry, a group that includes 146 individual stocks and currently sits at #64 in the Zacks Industry Rank. Stocks in this group have gained about 28.6% so far this year, so META is performing better this group in terms of year-to-date returns.
On the other hand, Orange belongs to the Wireless Non-US industry. This 13-stock industry is currently ranked #113. The industry has moved +15.9% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Meta Platforms and Orange as they could maintain their solid performance.