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Is Alphabet (GOOG) Outperforming Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Alphabet (GOOG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Alphabet is a member of our Computer and Technology group, which includes 647 different companies and currently sits at #8 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 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. Alphabet is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for GOOG's full-year earnings has moved 5.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that GOOG has returned about 70.2% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 29%. This means that Alphabet is performing better than its sector in terms of year-to-date returns.
Breaking things down more, Alphabet is a member of the Internet - Services industry, which includes 48 individual companies and currently sits at #183 in the Zacks Industry Rank. On average, this group has gained an average of 47.8% so far this year, meaning that GOOG is performing better in terms of year-to-date returns.
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Is Alphabet (GOOG) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Alphabet (GOOG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Alphabet is a member of our Computer and Technology group, which includes 647 different companies and currently sits at #8 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 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. Alphabet is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for GOOG's full-year earnings has moved 5.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that GOOG has returned about 70.2% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 29%. This means that Alphabet is performing better than its sector in terms of year-to-date returns.
Breaking things down more, Alphabet is a member of the Internet - Services industry, which includes 48 individual companies and currently sits at #183 in the Zacks Industry Rank. On average, this group has gained an average of 47.8% so far this year, meaning that GOOG is performing better in terms of year-to-date returns.