Investors focused on the Computer and Technology space have likely heard of Zendesk (ZEN - 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.
Zendesk is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ZEN is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ZEN's full-year earnings has moved 31.90% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ZEN has moved about 8.61% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 4.42%. This means that Zendesk is outperforming the sector as a whole this year.
Looking more specifically, ZEN belongs to the Internet - Software industry, which includes 92 individual stocks and currently sits at #101 in the Zacks Industry Rank. Stocks in this group have gained about 7.80% so far this year, so ZEN is performing better this group in terms of year-to-date returns.
ZEN 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.