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Is Bakkt (BKKT) Outperforming Other Business Services Stocks This Year?

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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? Let's take a closer look at the stock's year-to-date performance to find out.

Bakkt Holdings, Inc. is a member of the Business Services sector. This group includes 329 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. Bakkt Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for BKKT's full-year earnings has moved 8.1% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that BKKT has returned about 10.1% since the start of the calendar year. At the same time, Business Services stocks have gained an average of 8.1%. This means that Bakkt Holdings, Inc. is outperforming the sector as a whole this year.

Clean Harbors (CLH - 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 49%.

The consensus estimate for Clean Harbors' current year EPS has increased 3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Bakkt Holdings, Inc. belongs to the Technology Services industry, a group that includes 187 individual companies and currently sits at #100 in the Zacks Industry Rank. On average, stocks in this group have gained 14.1% this year, meaning that BKKT is slightly underperforming its industry in terms of year-to-date returns.

Clean Harbors, however, belongs to the Waste Removal Services industry. Currently, this 17-stock industry is ranked #188. The industry has moved +7.3% so far this year.

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

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