Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Square (SQ - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 #10 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SQ is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SQ's full-year earnings has moved 79.59% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that SQ has returned about 33.87% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 17.18% on average. This shows that Square is outperforming its peers so far this year.
To break things down more, SQ belongs to the Internet - Software industry, a group that includes 83 individual companies and currently sits at #55 in the Zacks Industry Rank. Stocks in this group have gained about 27.47% so far this year, so SQ is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on SQ as it attempts to continue its solid performance.