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Is Matterport (MTTR) Outperforming Other Business Services Stocks This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Matterport, Inc. (MTTR - 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.
Matterport, Inc. is one of 317 individual stocks in the Business Services sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. 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 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. Matterport, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MTTR's full-year earnings has moved 2.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, MTTR has returned 62.5% so far this year. Meanwhile, the Business Services sector has returned an average of 11.3% on a year-to-date basis. This shows that Matterport, Inc. is outperforming its peers so far this year.
Qifu Technology, Inc. (QFIN - 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 57%.
For Qifu Technology, Inc. the consensus EPS estimate for the current year has increased 17.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Matterport, Inc. belongs to the Technology Services industry, which includes 171 individual stocks and currently sits at #77 in the Zacks Industry Rank. Stocks in this group have gained about 17.9% so far this year, so MTTR is performing better this group in terms of year-to-date returns. Qifu Technology, Inc. is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track Matterport, Inc. and Qifu Technology, Inc. These stocks will be looking to continue their solid performance.