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Is Meta Platforms (META) 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. Meta Platforms (META - 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? 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.
Meta Platforms is one of 617 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Meta Platforms is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for META's full-year earnings has moved 5.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that META has returned about 34.4% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 11.2% on average. This means that Meta Platforms is performing better than its sector in terms of year-to-date returns.
Another stock in the Computer and Technology sector, GoDaddy (GDDY - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 38.4%.
In GoDaddy's case, the consensus EPS estimate for the current year increased 1.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Meta Platforms belongs to the Internet - Software industry, a group that includes 141 individual stocks and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have gained about 3.2% so far this year, so META is performing better this group in terms of year-to-date returns.
In contrast, GoDaddy falls under the Internet - Delivery Services industry. Currently, this industry has 5 stocks and is ranked #109. Since the beginning of the year, the industry has moved +25.8%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Meta Platforms and GoDaddy as they could maintain their solid performance.
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Is Meta Platforms (META) 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. Meta Platforms (META - 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? 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.
Meta Platforms is one of 617 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Meta Platforms is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for META's full-year earnings has moved 5.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that META has returned about 34.4% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 11.2% on average. This means that Meta Platforms is performing better than its sector in terms of year-to-date returns.
Another stock in the Computer and Technology sector, GoDaddy (GDDY - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 38.4%.
In GoDaddy's case, the consensus EPS estimate for the current year increased 1.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Meta Platforms belongs to the Internet - Software industry, a group that includes 141 individual stocks and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have gained about 3.2% so far this year, so META is performing better this group in terms of year-to-date returns.
In contrast, GoDaddy falls under the Internet - Delivery Services industry. Currently, this industry has 5 stocks and is ranked #109. Since the beginning of the year, the industry has moved +25.8%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Meta Platforms and GoDaddy as they could maintain their solid performance.