The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is SailPoint Technologies Holdings (SAIL - Free Report) one of those stocks right now? 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.
SailPoint Technologies Holdings is a member of our Business Services group, which includes 166 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. SAIL is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SAIL's full-year earnings has moved 190% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that SAIL has returned about 60.48% since the start of the calendar year. Meanwhile, the Business Services sector has returned an average of 9.83% on a year-to-date basis. This shows that SailPoint Technologies Holdings is outperforming its peers so far this year.
To break things down more, SAIL belongs to the Technology Services industry, a group that includes 21 individual companies and currently sits at #148 in the Zacks Industry Rank. On average, this group has gained an average of 18.51% so far this year, meaning that SAIL is performing better in terms of year-to-date returns.
Going forward, investors interested in Business Services stocks should continue to pay close attention to SAIL as it looks to continue its solid performance.