Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Etsy (ETSY - 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.
Etsy is one of 654 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. 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 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. ETSY is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ETSY's full-year earnings has moved 43.47% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ETSY has gained about 131.25% so far this year. At the same time, Computer and Technology stocks have lost an average of 6.26%. As we can see, Etsy is performing better than its sector in the calendar year.
Breaking things down more, ETSY is a member of the Internet - Services industry, which includes 52 individual companies and currently sits at #102 in the Zacks Industry Rank. On average, stocks in this group have lost 24.02% this year, meaning that ETSY is performing better in terms of year-to-date returns.
ETSY will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.