Investors focused on the Computer and Technology space have likely heard of ChannelAdvisor (ECOM - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
ChannelAdvisor is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #6. 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ECOM is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ECOM's full-year earnings has moved 19.80% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ECOM has moved about 55.56% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 4.42% on average. As we can see, ChannelAdvisor is performing better than its sector in the calendar year.
Breaking things down more, ECOM is a member of the Internet - Software and Services industry, which includes 21 individual companies and currently sits at #109 in the Zacks Industry Rank. On average, stocks in this group have lost 3.08% this year, meaning that ECOM is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on ECOM as it attempts to continue its solid performance.