Investors focused on the Computer and Technology space have likely heard of BlackBerry (BB - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
BlackBerry is one of 651 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. BB is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for BB's full-year earnings has moved 133.33% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, BB has gained about 1.69% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 0.62% on a year-to-date basis. This shows that BlackBerry is outperforming its peers so far this year.
Looking more specifically, BB belongs to the Wireless Non-US industry, which includes 17 individual stocks and currently sits at #75 in the Zacks Industry Rank. This group has gained an average of 2.60% so far this year, so BB is slightly underperforming its industry in this area.
Investors in the Computer and Technology sector will want to keep a close eye on BB as it attempts to continue its solid performance.