For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is MeetMe 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.
MeetMe is a member of our Computer and Technology group, which includes 629 different companies and currently sits at #6 in 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MEET is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MEET's full-year earnings has moved 5.26% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, MEET has moved about 3.67% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 27.70% on average. This means that MeetMe is performing better than its sector in terms of year-to-date returns.
To break things down more, MEET belongs to the Internet - Software industry, a group that includes 91 individual companies and currently sits at #102 in the Zacks Industry Rank. On average, this group has gained an average of 13.96% so far this year, meaning that MEET is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on MEET as it attempts to continue its solid performance.