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? Let's take a closer look at the stock's year-to-date performance to find out.
Square is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 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).
Within the past quarter, the Zacks Consensus Estimate for SQ's full-year earnings has moved 3.25% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that SQ has returned about 17.26% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 13.49% on a year-to-date basis. As we can see, Square is performing better than its sector in the calendar year.
Looking more specifically, SQ belongs to the Internet - Software industry, a group that includes 83 individual stocks and currently sits at #83 in the Zacks Industry Rank. On average, this group has gained an average of 27.77% so far this year, meaning that SQ 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 SQ as it looks to continue its solid performance.