Investors focused on the Computer and Technology space have likely heard of Bandwidth (BAND - 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.
Bandwidth is one of 613 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 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. BAND is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for BAND's full-year earnings has moved 35.64% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, BAND has moved about 75.41% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 5.54%. This means that Bandwidth is performing better than its sector in terms of year-to-date returns.
To break things down more, BAND belongs to the Communication - Infrastructure industry, a group that includes 5 individual companies and currently sits at #4 in the Zacks Industry Rank. Stocks in this group have gained about 24.92% so far this year, so BAND is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track BAND. The stock will be looking to continue its solid performance.