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Is Cleanspark (CLSK) Stock Outpacing Its Business Services Peers This Year?

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Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. CleanSpark (CLSK - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.

CleanSpark is one of 333 companies in the Business Services group. The Business Services group currently sits at #9 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CleanSpark is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for CLSK's full-year earnings has moved 27.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, CLSK has gained about 107.4% so far this year. In comparison, Business Services companies have returned an average of 9.2%. As we can see, CleanSpark is performing better than its sector in the calendar year.

Fathom Holdings (FTHM - Free Report) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 63.5%.

Over the past three months, Fathom Holdings' consensus EPS estimate for the current year has increased 10.5%. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, CleanSpark is a member of the Technology Services industry, which includes 192 individual companies and currently sits at #108 in the Zacks Industry Rank. On average, this group has gained an average of 20.2% so far this year, meaning that CLSK is performing better in terms of year-to-date returns. Fathom Holdings is also part of the same industry.

Investors interested in the Business Services sector may want to keep a close eye on CleanSpark and Fathom Holdings as they attempt to continue their solid performance.

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