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Is Bitfarms (BITF) Outperforming Other Business Services Stocks This Year?
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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Bitfarms Ltd. (BITF - 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 Business Services sector should help us answer this question.
Bitfarms Ltd. is a member of the Business Services sector. This group includes 335 individual stocks and currently holds a Zacks Sector Rank of #10. 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 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. Bitfarms Ltd. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BITF's full-year earnings has moved 75% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, BITF has returned 129.5% so far this year. At the same time, Business Services stocks have gained an average of 1.6%. This means that Bitfarms Ltd. is performing better than its sector in terms of year-to-date returns.
Another stock in the Business Services sector, Bureau Veritas Registre International De Classification (BVRDF - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 9%.
For Bureau Veritas Registre International De Classification, the consensus EPS estimate for the current year has increased 11.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bitfarms Ltd. belongs to the Technology Services industry, which includes 195 individual stocks and currently sits at #118 in the Zacks Industry Rank. This group has gained an average of 1.3% so far this year, so BITF is performing better in this area.
In contrast, Bureau Veritas Registre International De Classification falls under the Consulting Services industry. Currently, this industry has 15 stocks and is ranked #72. Since the beginning of the year, the industry has moved +2.1%.
Investors with an interest in Business Services stocks should continue to track Bitfarms Ltd. and Bureau Veritas Registre International De Classification. These stocks will be looking to continue their solid performance.
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Is Bitfarms (BITF) Outperforming Other Business Services Stocks This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Bitfarms Ltd. (BITF - 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 Business Services sector should help us answer this question.
Bitfarms Ltd. is a member of the Business Services sector. This group includes 335 individual stocks and currently holds a Zacks Sector Rank of #10. 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 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. Bitfarms Ltd. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BITF's full-year earnings has moved 75% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, BITF has returned 129.5% so far this year. At the same time, Business Services stocks have gained an average of 1.6%. This means that Bitfarms Ltd. is performing better than its sector in terms of year-to-date returns.
Another stock in the Business Services sector, Bureau Veritas Registre International De Classification (BVRDF - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 9%.
For Bureau Veritas Registre International De Classification, the consensus EPS estimate for the current year has increased 11.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bitfarms Ltd. belongs to the Technology Services industry, which includes 195 individual stocks and currently sits at #118 in the Zacks Industry Rank. This group has gained an average of 1.3% so far this year, so BITF is performing better in this area.
In contrast, Bureau Veritas Registre International De Classification falls under the Consulting Services industry. Currently, this industry has 15 stocks and is ranked #72. Since the beginning of the year, the industry has moved +2.1%.
Investors with an interest in Business Services stocks should continue to track Bitfarms Ltd. and Bureau Veritas Registre International De Classification. These stocks will be looking to continue their solid performance.