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Has Zoom Video Communications (ZM) Outpaced Other Computer and Technology Stocks This Year?
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Investors focused on the Computer and Technology space have likely heard of Zoom Video Communications (ZM - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Zoom Video Communications is one of 607 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 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 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. ZM is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ZM's full-year earnings has moved 4,000% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ZM has moved about 272.63% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 11.04% on average. This means that Zoom Video Communications is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ZM belongs to the Internet - Software industry, which includes 91 individual stocks and currently sits at #45 in the Zacks Industry Rank. Stocks in this group have gained about 49.50% so far this year, so ZM is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on ZM as it attempts to continue its solid performance.
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Has Zoom Video Communications (ZM) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Zoom Video Communications (ZM - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Zoom Video Communications is one of 607 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 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 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. ZM is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ZM's full-year earnings has moved 4,000% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ZM has moved about 272.63% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 11.04% on average. This means that Zoom Video Communications is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ZM belongs to the Internet - Software industry, which includes 91 individual stocks and currently sits at #45 in the Zacks Industry Rank. Stocks in this group have gained about 49.50% so far this year, so ZM is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on ZM as it attempts to continue its solid performance.