The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is MeetMe (MEET - Free Report) one of those stocks right now? 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.
MeetMe is one of 641 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MEET is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MEET's full-year earnings has moved 20% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that MEET has returned about 9.72% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 20.67%. This means that MeetMe is outperforming the sector as a whole this year.
Looking more specifically, MEET belongs to the Internet - Software industry, which includes 84 individual stocks and currently sits at #54 in the Zacks Industry Rank. On average, this group has gained an average of 28.52% so far this year, meaning that MEET is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to MEET as it looks to continue its solid performance.