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. Is Match Group (MTCH - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Match Group is one of 660 individual stocks in the Computer and Technology sector. Collectively, these companies sit 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. MTCH is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MTCH's full-year earnings has moved 3.55% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, MTCH has returned 64.39% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 2.23% on a year-to-date basis. This means that Match Group is outperforming the sector as a whole this year.
Breaking things down more, MTCH is a member of the Internet - Services industry, which includes 52 individual companies and currently sits at #63 in the Zacks Industry Rank. On average, this group has lost an average of 20.15% so far this year, meaning that MTCH 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 MTCH as it attempts to continue its solid performance.