Investors focused on the Computer and Technology space have likely heard of Datadog (DDOG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of DDOG and the rest of the Computer and Technology group's stocks.
Datadog is one of 612 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 groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. DDOG is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DDOG's full-year earnings has moved 85.71% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that DDOG has returned about 95.18% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 9.54%. This means that Datadog is outperforming the sector as a whole this year.
Looking more specifically, DDOG belongs to the Internet - Software industry, which includes 90 individual stocks and currently sits at #29 in the Zacks Industry Rank. This group has gained an average of 36.63% so far this year, so DDOG is performing better in this area.
DDOG 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.