The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. SailPoint Technologies Holdings (SAIL - 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 SAIL and the rest of the Business Services group's stocks.
SailPoint Technologies Holdings is one of 189 companies in the Business Services group. The Business Services group currently sits at #12 within 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 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. SAIL is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SAIL's full-year earnings has moved 129.03% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SAIL has moved about 23.24% on a year-to-date basis. At the same time, Business Services stocks have gained an average of 22.37%. This means that SailPoint Technologies Holdings is performing better than its sector in terms of year-to-date returns.
Breaking things down more, SAIL is a member of the Technology Services industry, which includes 51 individual companies and currently sits at #177 in the Zacks Industry Rank. On average, this group has gained an average of 28.94% so far this year, meaning that SAIL is slightly underperforming its industry in terms of year-to-date returns.
SAIL will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.