The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Alteryx (AYX - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Alteryx is a member of the Computer and Technology sector. This group includes 642 individual stocks and currently holds a Zacks Sector Rank of #5. 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. AYX is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AYX's full-year earnings has moved 116.97% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, AYX has gained about 42.96% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 20.24% on average. This means that Alteryx is outperforming the sector as a whole this year.
To break things down more, AYX belongs to the Internet - Software industry, a group that includes 84 individual companies and currently sits at #52 in the Zacks Industry Rank. Stocks in this group have gained about 30.47% so far this year, so AYX is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AYX as it looks to continue its solid performance.