For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has COUPA SOFTWARE (COUP - 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.
COUPA SOFTWARE is a member of the Computer and Technology sector. This group includes 625 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. COUP is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for COUP's full-year earnings has moved 11.49% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, COUP has returned 149.90% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 11.09% on average. This means that COUPA SOFTWARE is outperforming the sector as a whole this year.
To break things down more, COUP belongs to the Internet - Software industry, a group that includes 70 individual companies and currently sits at #94 in the Zacks Industry Rank. Stocks in this group have gained about 29.06% so far this year, so COUP is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track COUP. The stock will be looking to continue its solid performance.