Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Zendesk (ZEN - 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.
Zendesk is one of 629 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 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 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. ZEN is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ZEN's full-year earnings has moved 34.22% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ZEN has gained about 32.28% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 29.29% on a year-to-date basis. As we can see, Zendesk is performing better than its sector in the calendar year.
Breaking things down more, ZEN is a member of the Internet - Software industry, which includes 91 individual companies and currently sits at #102 in the Zacks Industry Rank. This group has gained an average of 17.37% so far this year, so ZEN is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ZEN as it looks to continue its solid performance.