Investors focused on the Computer and Technology space have likely heard of Square (SQ - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of SQ and the rest of the Computer and Technology group's stocks.
Square is a member of our Computer and Technology group, which includes 642 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. SQ is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SQ's full-year earnings has moved 66.50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SQ has gained about 32.13% so far this year. At the same time, Computer and Technology stocks have gained an average of 12.55%. As we can see, Square is performing better than its sector in the calendar year.
Breaking things down more, SQ is a member of the Internet - Software industry, which includes 83 individual companies and currently sits at #45 in the Zacks Industry Rank. On average, this group has gained an average of 20.81% so far this year, meaning that SQ is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track SQ. The stock will be looking to continue its solid performance.