Investors focused on the Computer and Technology space have likely heard of Etsy (ETSY - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Etsy is one of 638 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. ETSY is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ETSY's full-year earnings has moved 10.72% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ETSY has moved about 43.05% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 24.15%. As we can see, Etsy is performing better than its sector in the calendar year.
Breaking things down more, ETSY is a member of the Internet - Services industry, which includes 54 individual companies and currently sits at #97 in the Zacks Industry Rank. On average, this group has gained an average of 2.19% so far this year, meaning that ETSY is performing better in terms of year-to-date returns.
ETSY will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.