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Is ServiceNow (NOW) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. ServiceNow (NOW - 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? 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.
ServiceNow is one of 618 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ServiceNow is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NOW's full-year earnings has moved 4.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, NOW has moved about 18.3% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 16.8% on average. This means that ServiceNow is performing better than its sector in terms of year-to-date returns.
Another stock in the Computer and Technology sector, Bilibili (BILI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 20.1%.
For Bilibili, the consensus EPS estimate for the current year has increased 21% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, ServiceNow belongs to the Computers - IT Services industry, a group that includes 39 individual companies and currently sits at #68 in the Zacks Industry Rank. Stocks in this group have gained about 3.1% so far this year, so NOW is performing better this group in terms of year-to-date returns.
In contrast, Bilibili falls under the Internet - Services industry. Currently, this industry has 39 stocks and is ranked #87. Since the beginning of the year, the industry has moved +11%.
Investors interested in the Computer and Technology sector may want to keep a close eye on ServiceNow and Bilibili as they attempt to continue their solid performance.
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Is ServiceNow (NOW) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. ServiceNow (NOW - 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? 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.
ServiceNow is one of 618 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ServiceNow is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NOW's full-year earnings has moved 4.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, NOW has moved about 18.3% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 16.8% on average. This means that ServiceNow is performing better than its sector in terms of year-to-date returns.
Another stock in the Computer and Technology sector, Bilibili (BILI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 20.1%.
For Bilibili, the consensus EPS estimate for the current year has increased 21% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, ServiceNow belongs to the Computers - IT Services industry, a group that includes 39 individual companies and currently sits at #68 in the Zacks Industry Rank. Stocks in this group have gained about 3.1% so far this year, so NOW is performing better this group in terms of year-to-date returns.
In contrast, Bilibili falls under the Internet - Services industry. Currently, this industry has 39 stocks and is ranked #87. Since the beginning of the year, the industry has moved +11%.
Investors interested in the Computer and Technology sector may want to keep a close eye on ServiceNow and Bilibili as they attempt to continue their solid performance.